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G20 international trade soars in 2017: OECD

OECDBy Tuba Sahin,

Ankara: International merchandise trade in G20 countries soared year-on-year in 2017, according to OECD data released Wednesday.

G20 country exports and imports rose 10.0 percent and 11.5 percent respectively last year compared to 2016.

The data showed that the highest annual export growth in 2017 was seen in Australia — 20.5 percent — and Russia — 25.4 percent.

India and Russia posted the highest import growth over the same period with 23.2 percent and 24.5 percent, respectively.

In the last quarter of 2017, G20 counties’ international merchandise trade also soared for the seventh consecutive quarter.

G20 exports in the fourth quarter climbed 2.7 percent to over $3.56 trillion, while imports rose 3 percent to top $3.6 trillion.

According to the data, Turkish exports and imports were also on the rise in the last quarter of 2017 with 3 percent and 3.2 percent, respectively.

—AA

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