Preliminary estimates indicate that G20 exports and imports grew by 2.2 per cent and 3.5 per cent, respectively, in Q1 2024, partially reflecting an increase in international travel, as per OECD.
In the US, merchandise exports rose by 1.4 per cent in Q1 2024, buoyed by higher sales of consumer goods. In contrast, Canada experienced a 0.6 per cent decline in exports. The European Union saw a modest export increase of 0.9 per cent, while imports declined, though the decrease was less pronounced than in the previous quarter.
The UK faced a contraction in both exports and imports, attributed to lower trade in machinery and transport equipment. However, merchandise exports in East Asia showed strong growth during the same period.
ALCHEMPro News Desk (DP)
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