G20 international merchandise trade, seasonally adjusted and expressed in current US dollars, increased for the eighth straight quarter, and at its fastest pace in two years, to reach new highs in the first quarter of 2018. G20 exports grew by 5.3 per cent and imports by 5.8 per cent.
Robust export growth in the first quarter of 2018 occurred in Brazil (13.4 per cent), Russia (12.8 per cent), Argentina (12.7 per cent), Australia (11.3 per cent), China (9.5 per cent) and Korea (7.6 per cent). Exports grew more moderately in the G7 economies, 5.5 per cent in the United Kingdom, 4.6 per cent in Germany, 3.3 per cent in Italy, 2.8 per cent in France, 2.7 per cent in the United States, 2.6 per cent in Japan and 1.2 per cent in Canada.
All G20 economies recorded positive growth for imports in Q1 2018. The highest growth occurred in China (13.7 per cent), South Africa (13.5 per cent), Korea (10.8 per cent), Brazil (7.8 per cent), Russia (6.4 per cent) and Australia (6.1 per cent), said an OECD release.