Trade accelerated in fourth quarter of 2010: OECD
24 Feb 2011
Merchandise trade grew faster in the Group of Seven industrialised countries and most other major economies in the final quarter of 2010, the Organisation for Economic Co-operation and Development (OECD) said in a report today.
Exports from the G-7 and the major emerging economies of Brazil, Russia, India and China rose 8 per cent in the final three months of 2010 compared with a 1 per cent increase in the previous three-month period.
On the other hand, imports into these countries grew 7 per cent against 1 per cent in the previous quarter, OECD said.
Chinese imports, however, far exceeded its exports, reducing the country's trade surplus. The country's imports rose 9 per cent to $379 billion while its exports rose 3 per cent to $420 billion, reducing its trade surplus by $17 billion to $41 billion, OECD said in its quarterly review of trade statistics.
US exports rose 5 per cent against a 1 per cent rise in imports during the final quarter of 2010. US trade deficit decreased to $152 billion during the quarter from $160 billion in the previous quarter.
Germany's exports grew 7 per cent against a 4 per cent growth in imports, resulting in a $10 billion increase in its trade surplus to $54 billion.
