G20 Nations See Modest Q2 Trade Growth
(MENAFN) International trade among G20 nations posted modest growth in the second quarter of 2025, driven by stable global demand and high-tech exports from Asia, even as the United States saw a sharp downturn in imports, according to the Organization for Economic Cooperation and Development (OECD) on Tuesday.
Goods exports across the G20 rose 2.6% from the previous quarter, while imports remained nearly flat.
“This was largely due to the sharp contraction in imports into the United States following the earlier surge in imports in Q1 2025,” an OECD statement said.
The report highlighted that trade performance was shaped by currency shifts and heightened uncertainty after new tariffs were introduced.
“Trade outcomes in Q2 2025 were influenced by the depreciation of the US dollar against most currencies and rising trade uncertainty, following new tariff announcements,” it added.
In the U.S., exports grew by 2.7%, buoyed by increased shipments of finished metal shapes and non-monetary gold. However, imports plummeted 18.4% amid a sharp drop in industrial supply purchases.
Canada’s export sector contracted by 9.7%, pressured by weaker oil prices, while imports showed little change.
Asia saw robust trade momentum. China's exports advanced 2.5% and imports rose 4.7%, underpinned by semiconductors and high-tech goods. South Korea posted a 7.1% jump in exports, driven by strong demand for semiconductors and high-bandwidth memory chips.
European economies also recorded solid gains. Germany’s exports climbed 7.4%, France gained 6.0%, and Italy increased by 5.9%. Across the European Union, imports rose 6.3% while exports grew by 4.7%.
The United Kingdom reported an 8.5% surge in imports—driven by demand for vehicles and pharmaceuticals—while exports edged up 1.3%.
In contrast, Brazil and Argentina each saw a 3.6% decline in exports, while imports in both countries rose by 9.3%. Australia’s exports rose 1.8%, led by scrap metal and metallic ore shipments.
Beyond goods, the G20’s services trade showed strong performance in Q2. Services exports expanded by 4.7%, while imports rose 2.9%.
The G20, comprising the world’s largest economies—including the US, China, Germany, Japan, India, UK, France, Italy, Australia, Indonesia, Russia, Türkiye, Brazil, Canada, Mexico, South Africa, South Korea, Saudi Arabia, and Argentina—also includes two major regional organizations: the European Union and the African Union.
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