G20 merchandise exports tick up 0.4% in 3rd quarter

Imports climb 1.5% in July-September compared to previous period, led by North America, Europe regions

By Tuba Ongun

G20 merchandise exports edged up 0.4% in the third quarter of 2024 from the previous quarter, according to new Organization for Economic Cooperation and Development (OECD) figures released on Tuesday.

The figure recovered from stagnation in the second quarter, the Paris-based organization said.

Its goods imports grew 1.5% quarter-on-quarter in July-September, up slightly from a 1.3% increase in April-June.

Merchandise exports climbed 2.5% in the US in the third quarter, thanks to strong trade in capital goods, including semiconductors.

Canada's exports rose 0.9% in the three months to September, driven by higher sales of mineral products and consumer goods.

The EU posted a 1.8% hike in merchandise exports with key contributions from Germany (pharmaceutical products) and Italy (apparel and food articles).

In Asia, Japan's overseas shipments surged 4.9%, supported by electrical and metalworking machinery and scientific instruments.

China, on the other hand, saw a 3.4% contraction in exports, largely due to weaker demand for furniture and plastics.

G20 services exports and imports in July-September grew 2.8% and 1.4%, respectively.

Kaynak:

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