<\/p>\n
Both goods, services trade activity rose after mixed second quarter.<\/p>\n
While global trade is now facing a looming threat posed by planned U.S. tariffs, merchandise and services trade across the G20 expanded last quarter, according to new data from the Organization for Economic Cooperation and Development (OECD).<\/p>\n
On Tuesday, the Paris-based group reported that G20 merchandise trade grew in the third quarter, following a \u201cmixed performance\u201d in the previous quarter.<\/p>\n
Exports rose by 0.4% on a quarter-over-quarter basis, and imports increased by 1.5%, \u201clargely driven by trade growth in North America and Europe,\u201d the OECD said.<\/p>\n
In particular, U.S. exports and imports climbed significantly, rising 2.5% and 3.1%, respectively, \u201cfuelled by strong trade in capital goods, including semiconductors.\u201d<\/p>\n
Canada\u2019s exports rose by 0.9% in the quarter, the OECD said, \u201cdriven by higher sales of mineral products and consumer goods.\u201d<\/p>\n
The European Union saw exports expand by 1.8% in Q3 \u201cafter several quarters of weak growth,\u201d the report noted, \u201cwith key contributions from Germany and Italy.\u201d<\/p>\n
In Asia, Japan enjoyed a 4.9% quarterly surge in exports, and imports were up by 3.4%. Meanwhile, China saw merchandise trade shrink, as exports fell by 3.4%, \u201clargely due to weaker demand for furniture and plastics,\u201d and imports declined by 2.0%, \u201cmainly due to reduced purchases of crude petroleum.\u201d<\/p>\n
The OECD also reported that preliminary estimates indicate that services trade continued to expand in the third quarter, as services exports rose by 2.8% and imports were up by 1.4% in the period.<\/p>\n
In the U.S., services exports rose by 1.3% in the quarter, while imports were up by 2.3%.<\/p>\n
Canada\u2019s exports grew by 1.3% in the third quarter, and imports were up 2.0%, \u201cmostly from travel.\u201d<\/p>\n
In Europe, services exports grew strongly in Germany and France, while imports were up sharply in the U.K., the OECD noted.<\/p>\n
For Asia, China\u2019s exports soared by 16.4% in the third quarter, \u201cfuelled by strong transport and travel revenues,\u201d the report said, but imports were down by 4.2% in the quarter.<\/p>\n
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