G20 international merchandise trade picks up in last quarter of 2021

Exports up 3.4%, imports rose 5% from previous quarter, according to OECD data

By Aysu Bicer

ANKARA (AA) – G20 international merchandise trade accelerated in value terms in the fourth quarter of 2021, the Organization for Economic Co-Operation and Development (OECD) said on Thursday.

“While shipping costs kept the value of trade in transport services at record highs, trade in other services showed a slowdown notably in Europe, possibly reflecting a tightening of COVID-19 related restrictions towards the end of the year,” read an OECD statement.

Exports were up 3.4% and imports rose 5% in the fourth quarter with respect to the previous quarter, it added.

“In 2021, annual merchandise exports and imports for the G20 expanded by 25.9% and 26.1%, respectively, with values around 16% above their 2019 levels,” the statement said.

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