Foreign trade in goods registered a significant rebound in OECD countries during the third quarter of the year, although it remains below pre-pandemic levels, the organization announced on Thursday (26.11.2020).
Exports of the countries in the group rose by 21,6% between July and September compared to the previous quarter, while the Imports grew by 18,1%, the OECD noted in a release.
However, International trade remains around 5% below its pre-pandemic level in the fourth quarter of 2019 and about 10% below the most recent peak seen in the third quarter of 2018.
Furthermore, provisional data for October, in those countries where data are available, suggest that renewed lockdown measures introduced in many economies may already be starting to weigh on international trade.
Exports and imports rebounded strongly in North America: in Canada, 31,1% and 32,3%, respectively; in the United States, 23,6% and 18,5%; and in Mexico, 50,2% and 18,5%. Despite these positive developments, trade remained below pre-pandemic levels in this region.
Europe The EU saw a similar rebound in Q2020 27,4. In the EU, exports rose by 22,4% and imports by 35,9%, with exports in France, Germany and Italy up 28,2%, 40,8% and 30,7% respectively, and imports up 17,8%, 29,8% and 23,8%. In the UK, exports rose by 31,0% and imports by 2020%. In Russia, for Q40 10,6, despite a sharp rise of over 7,0% in crude oil prices, trade increased more moderately, with exports up XNUMX% and imports up XNUMX%.
En Brazil and Japan, imports decreased (8,9% and 5,3% respectively) for the third consecutive quarter and, although exports experienced moderate growth (1,6% and 11,6%), they remain 7% and 6% below pre-pandemic levels.
Among the G20 economies, Only China has seen a recovery in trade (exports increased by 9,6% and imports increased by 13,7% in the third quarter of 2020) above pre-pandemic levels with trade in personal protective equipment in particular helping to boost China's exports to a record high in the third quarter of 2020.
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