Paris, 28 May 2019 News Release

G20 International Merchandise Trade Statistics

1

G20 international merchandise trade growth remains weak in first quarter 2019

Growth in G20 international merchandise trade, seasonally adjusted and expressed in current US dollars, remained

weak in the first quarter of 2019. G20 exports rose marginally by 0.4% quarter-on-quarter while imports fell by 1.2%.

Compared to the third quarter of 2018, when the first round of new tariff measures affecting US-China trade came into

effect, G20 exports are down by 0.8% and imports by 2.7%.

Imports contracted in the United States (by minus 1.9%) in the first quarter of 2019, with US imports from China

falling by 12% (according to preliminary data), the largest fall on record. Imports also continued to contract in

China (by minus 0.5%, following the previous quarter’s contraction of minus 6.0%). Although exports were up 3.9%

in China and 0.7% in the United States, they remain below recent highs.

Through closely integrated supply chains, international trade in other Asian economies has also been impacted by rising

US-China trade tensions, as have exchange rates with the US dollar, with exports and imports contracting significantly

in Indonesia (minus 4.3% and minus 15.3% respectively), Japan (minus 2.3% and minus 4.7%) and Korea (minus

7.1% and minus 7.7%). Non-G20 economies in the region also experienced significant falls in trade.

In other G20 economies, only the United Kingdom recorded strong growth in exports (6.2%) and imports (5.0%) in

part reflecting firm’s stockpiling and increasing international trade activity due to Brexit uncertainty.

In the remaining G20 economies, exports grew moderately in Australia (1.1%), Mexico (1.1%), the EU 28 (1.0%),

Germany (0.9%), India (0.8%) and France (0.7%) and imports grew strongly in Turkey (5.3%) and Russia (3.5%).

G20 total international merchandise trade Seasonally adjusted, in current prices and US$ billion

Values Percentage variations

1500

2000

2500

3000

3500

4000

G20 Exports G20 Imports

-10

-8

-6

-4

-2

0

2

4

6

8

G20 Exports G20 Imports

Paris, 28 May 2019 News Release

G20 International Merchandise Trade Statistics

2

G20 total international merchandise trade Seasonally adjusted, current prices and US$ billion

Quarters 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1

G20 Export 3273.7 3322.2 3466.3 3578.8 3775.0 3742.5 3742.8 3697.1 3712.6

Import 3274.2 3356.5 3501.6 3627.4 3813.4 3796.1 3813.9 3756.9 3712.3

Argentina Export 14.6 14.2 14.9 14.9 16.4 14.3 14.6 16.2 16.0

Import 15.3 16.2 17.0 18.4 18.6 17.2 15.9 13.7 13.6

Australia Export 58.6 56.5 58.8 57.3 63.6 64.2 64.0 65.2 66.0

Import 50.2 53.4 63.6 54.2 58.2 58.3 55.0 55.4 55.3

Brazil Export 55.4 54.7 54.2 54.1 60.1 57.0 60.2 62.6 58.6

Import 36.1 36.0 39.3 39.8 42.3 42.1 50.9 45.2 42.4

Canada Export 104.1 105.7 103.3 107.7 110.1 115.3 115.2 110.1 107.6

Import 104.3 107.1 109.5 111.8 114.9 117.0 115.0 113.0 114.6

China Export 559.6 560.8 563.0 591.5 650.5 619.0 626.8 618.6 642.5

Import 454.8 451.3 461.2 492.2 533.9 539.8 551.5 518.6 515.8

EU 28 Export 1379.3 1425.1 1534.1 1581.6 1655.1 1624.3 1610.0 1583.1 1598.6

Import 1352.5 1403.0 1507.6 1553.3 1629.6 1605.1 1596.1 1581.7 1583.1

France Export 122.2 130.6 139.8 144.3 148.1 145.3 143.6 145.1 146.2

Import 145.4 149.1 161.9 164.3 171.6 171.0 166.5 164.0 166.7

Germany Export 335.8 349.1 377.3 385.1 402.1 395.7 384.5 378.4 381.8

Import 268.9 282.0 300.8 308.6 325.4 322.8 321.7 314.7 315.0

India Export 74.1 71.9 74.3 78.7 78.6 82.3 81.8 82.4 83.0

Import 108.3 113.6 108.9 118.9 123.9 127.9 133.4 128.5 123.3

Indonesia Export 40.3 40.8 43.3 44.3 44.8 45.1 45.4 44.1 42.2

Import 36.9 37.6 40.2 43.1 44.6 46.8 48.6 48.9 41.4

Italy Export 117.5 122.7 132.6 135.9 140.4 137.9 135.4 134.3 133.9

Import 105.9 110.2 117.6 121.1 127.0 125.6 125.2 124.5 121.0

Japan Export 169.2 171.7 177.8 179.8 186.2 187.9 183.3 181.2 177.1

Import 162.2 169.1 168.2 173.1 185.5 184.7 187.1 190.0 181.0

Korea Export 137.1 144.6 152.8 139.5 150.8 149.2 155.5 149.2 138.6

Import 117.4 118.1 122.9 121.2 133.7 133.6 132.4 135.7 125.2

Mexico Export 99.5 100.8 102.2 107.4 111.3 111.5 114.2 113.3 114.6

Import 101.7 103.1 106.1 110.1 113.5 115.4 117.7 117.1 116.0

Russia Export 86.8 84.3 86.5 95.6 107.0 109.5 113.2 113.2 108.2

Import 54.7 58.7 61.3 63.2 64.8 63.2 60.7 60.9 63.0

Saudi Arabia Export 57.9 49.2 52.4 62.3 67.4 73.6 77.5 76.1

Import 33.7 32.8 33.6 34.2 33.3 34.5 34.4 32.9

South Africa Export 21.6 22.2 22.1 23.1 24.1 23.7 23.3 23.0 22.6

Import 20.3 21.3 20.4 21.2 24.5 23.3 23.1 22.2 21.9

Turkey Export 36.3 38.7 40.4 41.2 42.0 40.6 39.9 44.7 43.8

Import 51.4 57.4 61.7 63.0 64.4 59.6 48.0 49.3 52.0

United Kingdom Export 100.4 103.7 108.2 111.4 117.4 111.5 113.5 109.3 116.1

Import 144.6 147.7 154.3 157.7 164.5 158.7 158.6 160.8 168.8

United States Export 379.3 380.9 386.2 399.9 407.0 425.0 417.8 414.1 417.0

Import 574.4 577.7 580.0 609.8 627.6 627.5 643.9 643.6 631.2

Paris, 28 May 2019 News Release

G20 International Merchandise Trade Statistics

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G20 total international merchandise trade Percentage variations

Quarters 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1

G20 Export 1.5% 4.3% 3.2% 5.5% -0.9% 0.0% -1.2% 0.4%

Import 2.5% 4.3% 3.6% 5.1% -0.5% 0.5% -1.5% -1.2%

Argentina Export -2.7% 4.3% 0.1% 10.4% -12.8% 2.1% 11.0% -1.3%

Import 5.3% 5.3% 8.1% 1.3% -7.6% -7.8% -14.0% -0.7%

Australia Export -3.6% 3.9% -2.4% 11.0% 0.9% -0.2% 1.9% 1.1%

Import 6.4% 18.9% -14.8% 7.5% 0.1% -5.6% 0.6% -0.1%

Brazil Export -1.2% -0.9% -0.3% 11.2% -5.2% 5.7% 3.9% -6.4%

Import -0.1% 9.3% 1.0% 6.4% -0.5% 20.9% -11.2% -6.4%

Canada Export 1.5% -2.2% 4.3% 2.2% 4.7% 0.0% -4.5% -2.3%

Import 2.7% 2.3% 2.1% 2.7% 1.8% -1.7% -1.7% 1.4%

China Export 0.2% 0.4% 5.1% 10.0% -4.8% 1.3% -1.3% 3.9%

Import -0.8% 2.2% 6.7% 8.5% 1.1% 2.2% -6.0% -0.5%

EU 28 Export 3.3% 7.6% 3.1% 4.6% -1.9% -0.9% -1.7% 1.0%

Import 3.7% 7.5% 3.0% 4.9% -1.5% -0.6% -0.9% 0.1%

France Export 6.9% 7.1% 3.2% 2.7% -1.9% -1.2% 1.1% 0.7%

Import 2.5% 8.6% 1.5% 4.4% -0.3% -2.6% -1.5% 1.7%

Germany Export 4.0% 8.1% 2.1% 4.4% -1.6% -2.8% -1.6% 0.9%

Import 4.9% 6.7% 2.6% 5.4% -0.8% -0.3% -2.2% 0.1%

India Export -2.9% 3.4% 5.8% -0.1% 4.8% -0.6% 0.7% 0.8%

Import 4.9% -4.2% 9.2% 4.1% 3.3% 4.3% -3.7% -4.0%

Indonesia Export 1.3% 6.0% 2.4% 1.1% 0.6% 0.8% -3.0% -4.3%

Import 2.0% 6.9% 7.1% 3.7% 4.8% 3.9% 0.7% -15.3%

Italy Export 4.4% 8.1% 2.5% 3.3% -1.8% -1.8% -0.8% -0.3%

Import 4.1% 6.7% 3.0% 4.9% -1.1% -0.3% -0.6% -2.8%

Japan Export 1.5% 3.5% 1.1% 3.5% 1.0% -2.5% -1.1% -2.3%

Import 4.2% -0.5% 2.9% 7.2% -0.5% 1.4% 1.5% -4.7%

Korea Export 5.4% 5.7% -8.7% 8.1% -1.0% 4.2% -4.0% -7.1%

Import 0.6% 4.0% -1.4% 10.4% -0.1% -0.9% 2.4% -7.7%

Mexico Export 1.4% 1.4% 5.0% 3.7% 0.1% 2.5% -0.8% 1.1%

Import 1.4% 2.9% 3.7% 3.2% 1.7% 2.0% -0.5% -1.0%

Russia Export -2.8% 2.6% 10.4% 11.9% 2.4% 3.3% 0.0% -4.4%

Import 7.3% 4.4% 3.1% 2.6% -2.4% -4.0% 0.3% 3.5%

Saudi Arabia Export -15.1% 6.5% 19.0% 8.2% 9.1% 5.3% -1.8%

Import -2.8% 2.6% 1.8% -2.7% 3.7% -0.5% -4.3%

South Africa Export 2.9% -0.4% 4.1% 4.4% -1.6% -1.5% -1.3% -1.9%

Import 5.2% -4.2% 3.8% 15.6% -5.0% -0.9% -3.8% -1.5%

Turkey Export 6.5% 4.4% 2.0% 2.1% -3.4% -1.7% 11.9% -2.0%

Import 11.7% 7.4% 2.2% 2.1% -7.4% -19.5% 2.8% 5.3%

United Kingdom Export 3.3% 4.3% 3.0% 5.3% -5.0% 1.8% -3.6% 6.2%

Import 2.1% 4.5% 2.2% 4.3% -3.5% -0.1% 1.4% 5.0%

United States Export 0.4% 1.4% 3.6% 1.8% 4.4% -1.7% -0.9% 0.7%

Import 0.6% 0.4% 5.1% 2.9% 0.0% 2.6% 0.0% -1.9%

Paris, 28 May 2019 News Release

G20 International Merchandise Trade Statistics

4

G20 economies: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union. The G20 aggregate is derived from the seasonally adjusted data of the individual economies.

>> Methodological Notes:

Further methodological information can be downloaded from:

http://www.oecd.org/sdd/its/OECD-G20-trade-technical-note.pdf

>> Access data:

The online dataset is available at:

http://stats.oecd.org/Index.aspx?datasetcode=MEI_TRD

>> Contacts:

For further information journalists are invited to contact the OECD’s Media Relations Division on (33) 1 45 24 97 00

or at news.contact@oecd.org; others should contact the OECD Statistics Directorate at stat.contact@oecd.org.

>> Next release:

29 August 2019