G20 merchandise and services trade resilient in Q1 2023
Following two consecutive quarters of decline, G20 merchandise exports rebounded in value terms in Q1 2023, as measured in current US dollars (Figure 1 and 2). Compared to Q4 2022, exports increased by 2.2%, driven partly by the revival of economic activity in China. G20 merchandise imports contracted by 1.2%, largely reflecting easing energy prices. Strong sales of vehicles and parts contributed to export growth in North America, with exports expanding by 1.0% in the United States, 1.2% in Canada and 1.2% in Mexico. In the European Union, exports increased ...
Read More »