August 27, 2020
- After a terrible April, in May and June the import-export
G20 showed an improvement
- The OECD has specified that early detections indicate that
The recovery continued in July
- The Organization for Economic Cooperation and Development
(OECD) announced that last April trade
of the G20 nations collapsed but began to recover
in the following two months as a result of the easing of
Containment of the Covid-19. In particular, in the entire second
2020 quarter, exports of G20 nations
decreases by -17.7% compared to the previous quarter and the previous
imports fell by -16.7%, the largest decline since
financial crisis in 2009.
- The OECD specified that the monthly data for the second
quarter reveal that the collapse in trade has
occurred in April 2020 when most countries
had put in place strict measures to contain the pandemic.
Compared to last March, in the following Month of April
exports and imports from the G20 fell
-18.7% and -16.0% respectively. The OECD pointed out that,
however, the May and June data point to a partial recovery
from April lows in almost all G20 economies due to
easing of containment measures. In addition, the data
July, in economies for which they are already available
this information indicates a continuation of the improvement.
- The OECD also stated that China was the only
G20 economy to record export growth in the
second quarter of 2020 (up 9.1%) after a drop of -9.3% in the first
Quarter. On the other hand, Chinese imports continued to follow
the downward trend decreased by -4.9%. Australia recorded
single-digit decreases in both exports (-4.4%) that of the
imports (-5.6%). In Japan, exports fell by
-15.2% and imports by -4.6%, while in Korea exports
fell by -20.1% and imports by -10.8%.
- India and Indonesia recorded particularly lows
exports (30.1% and -15.9% respectively)
(-47.4% and -18.5%). Exports and exports
imports have fallen sharply in North America:
Canada, -27.7% and -25.5% respectively; in the United States
-28.2% and -14.5%; Mexico by -36.1% and -29.7%.
- Similar collapses have been recorded in Europe. Exports
27 fell by -21.3% and imports by -19.0%.
France, Germany, Italy and the United Kingdom saw exports
-29.3%, -22.5%, -26.5% and -23.6% respectively, while
imports fell by -20.4%, -15.6%, respectively,
-23.3% and -25.2%. Russian exports fell by -24.6% and
imports fell by -14.9%.
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