G7 trade flows growth slows down in Q1 2010

10:04, July 22, 2010      

Email | Print | Subscribe | Comments | Forum 

The growth of merchandise trade volumes for the Group of 7 countries as a whole slowed down in the first quarter of 2010, albeit a continued upward trend, the Paris- based Organization of Economic Cooperation and Development said Wednesday.

Compared to the fourth quarter of 2009, G7 merchandise export and import volumes both grew by 3.2 percent in the first quarter, more than respective growth rate of 4.7 percent and 3.7 percent a quarter before.

Germany and Japan registered rises in export volumes by 4.3 percent and 6.5 percent respectively, leading the G7 overall trade flows growth, whilst Canada, the United Kingdom and the United States recorded growth rates smaller than 2 percent, the developed countries bloc said in a report.

Based on seasonally adjusted monthly data, merchandise trade values remain approximately 20 percent below pre-crisis levels in April and May, OECD added.

As to balance of payments data, the value of merchandise exports and imports grew by 1.3 percent and 3.4 percent, respectively, in the first quarter, down from last quarter's 8.0 percent and 6.7 percent accordingly.

Balance of payments data for trade in services showed a fall in 2010 first quarter of 1.7 percent for exports and 1.0 percent for imports.

The G7 groups seven most industrialized countries, which are France, Germany, Italy, Japan, the United Kingdom, Canada and the United States.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese President Hu Jintao watches the launch of Tiangong-1 space lab module at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Other members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, are also present. (Xinhua/Rao Aimin)
  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
Hot Forum Discussion