OECD warns of slowing foreign trade in the G20 region

The G20 exports and imports The (Group of Twenty) recorded increases in the second quarter of the year, but they were less than those recorded a month ago; However, commodity prices have been driven by a shortage of semiconductors, which has driven up the prices of various commodities, the Organization for Economic Co-operation and Development (OECD) reports.

According to OECD figures, in this period From April to June 2021, exports increased 4.1% Compared to the previous quarter, imports grew 6.4%. However, these increases were lower than those of 8.6 and 8.5 percent, in the first quarter of the year, respectively.

The international organization explained that, as in the previous quarter, the Rising commodity prices explain much of the increase in the value of international tradeCongestion in international shipping and supply problems around semiconductors has put further pressure on the prices of traded goods.

I made it clear that a file The G20 economies that depend more on merchandise exports It saw strong export growth in the second quarter of 2021, due to a combination of rising prices, limited global supply (for example, copper) and strong demand (particularly from China, Japan and Korea).

North Amarica

The Merchandise Trade Values ​​in North America It reached an all-time high in the second quarter of 2021.

The Canadian exports increased 4.7 percent, driven by energy and forest products. Imports increased 3.6 percent, with a major role in minerals and pharmaceutical products. Mexico also posted strong growth in the quarterExports grew 3.3 percent and imports 5.1 percent.

The United States recorded a growth of 6.8 percent in exports in the second quarter of 2021, led by aircraft, pharmaceuticals and semiconductors with strong demand from Canada and Mexico. Imports in the quarter increased by 4.2 percent, with strong imports of mobile phones and despite slow car purchases.

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The The European G20 economies experienced an increase in international tradeEspecially in aircraft, agricultural products and pharmaceuticals, particularly driven by demand from China and the United States.

The Australia’s exports increased by 10 percent In the second quarter of 2021, thanks to increased sales of grain, minerals and coal, while Brazilian exports increased by 29.4 percent, driven by iron minerals and soybeans.

while, Russian exports grew 30.7 percent In the second quarter of 2021, mainly benefiting from higher energy prices.

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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