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G20 exports rise 1.9% in Q1 after 3 quarters of declines
G20 countries' exports of goods rose by 1.9% between January and March, after three consecutive quarters of decline, thanks mainly to a strong 6.6% recovery from China.
© KAY NIETFELD/POOL/AFP via Getty Images
Economia G20
Despite this strong first-quarter progression, to USD 888.1 billion, Chinese exports remained below the level they had reached a year earlier, at USD 906.1 billion, according to statistics published today by the Organisation for Economic Co-operation and Development (OECD).
Germany, the world's third-largest exporter after China and the United States, recorded a 3.6% increase in foreign sales, to USD 433.7 billion, in this case slightly above the USD 430.8 billion of the first quarter of 2023.
The United States exported USD 515.1 billion, up 1.4%, and slightly below the USD 517.4 billion of the first three months of last year.
Another significant increase in the first quarter of 2024 is that of India, with a 5.5% increase to USD 114.8 billion.
The largest increase in relative terms of the G20 countries in the first three months was that of Argentina (15.3%), but with the lowest volume of all (USD 18.6 billion).
Brazil recorded the largest drop, of 3.5%, to USD 85.9 billion, after a strong recovery of 6.4% in the last three months of 2023.
Imports fell by 0.2% across the G20, which the OECD says partly reflects the fall in energy prices.
In services, trade volumes of the world's 20 largest economies grew, following the trend seen since the end of 2022, namely as a result of the increase in international travel.
Services exports rose 2.2%, while imports increased 3.5%.
China was again one of the protagonists, with a 9.9% increase in service exports and a 6.3% increase in imports.
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