International trade growth grinding to a halt

Merchandise trade growth slowed strongly in most major economies in the third quarter of 2011, according to figures just published by the OECD. Total imports of G7 and BRICS countries contracted by 1% in the third quarter, compared to 4.2% growth in the previous quarter. Total export growth slowed to 1%, compared to 4.6% in the previous quarter. Merchandise trade … Continue reading

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UK trade deficit narrows slightly

The UK’s deficit on trade in goods and services was reduced to £4.6bn in September, compared with a deficit of £4.9bn in August according to the Office for National Statistics. In July, the deficit recorded was the highest for five years, so at least we have two months of figures moving in the right direction. When we look at the … Continue reading

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Record UK trade gap

The deficit on trade in goods widened to £8.7bn in July, which is the biggest monthly figure since this current series of measurement began in 1998. This deficit compares with one of £7.5bn in June according to figures published yesterday by the Office of National Statistics. The UK’s balance of trade on goods and services also widened from £3.6bn in … Continue reading

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G7 trade flows growing but at a slowing pace

Merchandise trade volumes for the G7 countries as a whole continued to grow in the first quarter of 2010, but at a slower pace than in the fourth quarter of 2009, according to statistics just released by the OECD.  Based on seasonally adjusted monthly data, merchandise trade values remain approximately 20% below pre-crisis levels in April and May.   G7 … Continue reading

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Trade expansion can be a low-cost stimulus

  Director-General Pascal Lamy of the World Trade Organisation gave a speech in Shanghai last Friday in which he emphasized the importance of trade to the worldwide recovery. He said: “Trade can be thought of as a stimulus package available to both developed and developing countries.  It has to be part and parcel of the economic recovery effort for growth … Continue reading

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Have UK exports “hit the wall”?

The UK’s deficit on trade in goods and services widened to £3.8bn in May, compared to a deficit of £3.5bn in April. This is the worst balance of trade deficit for two years. These figures were published by the ONS today. The surplus on trade in services was £4.2bn in May, up from the £3.9bn recorded in April. On the … Continue reading

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Why has the UK trade deficit increased?

Is this more bad news? Let’s look at yesterday’s stark figures from the ONS. The UK’s trade deficit in goods and services widened from £2.2bn in February to £3.7bn in March. Although the trade in services remained in surplus to the tune of £3.8bn in March, this was down from the £4.1bn recorded in February. When it comes to the … Continue reading

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Trade continues to grow in G7 countries

Export volumes of merchandise trade were up 3.9% in the fourth quarter of 2009, whilst import volumes grew by 3.1%, according to new figures from the OECD. The biggest increases were in the US and Japan where export volumes rose by 6.4% and 6.1% respectively, and import volumes rose by 3.4% and 3.0% respectively. However, when we compare these figures … Continue reading

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UK trade picks up at last

It has been really puzzling as to why our balance of trade has not been improving. With sterling having depreciated by 25% since the beginning of 2007, we would have expected that this surge in price competitiveness to have boosted exports dramatically. The good news is that UK exports now seem to be really motoring. Well, not so much motoring, … Continue reading

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Recovery in OECD trade

The volume of merchandise trade of the G7 group of countries grew in the third quarter of 2009, after being largely stable in the previous quarter. In fact, exports from G7 countries grew by 5.0% quarter-on-quarter and imports rose by 4.1% in the third quarter. However, when we look at year-on-year figures, exports were down 17.5% and imports also fell … Continue reading

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