Merchandise trade exports in the Group of Seven countries fell a seasonally-adjusted 0.4% in the third quarter of 2006 compared with the second quarter, while import growth stagnated at 1.3%. On a year-to-year basis, G7 trade volumes continued to grow, with exports 10.4% higher and imports up 6.4%.

Merchandise Trade Volume Data

Germany’s merchandise trade growth compared with the previous quarter was the highest of the G7 countries. Exports rose by 6.4% while imports were up 3.1%. On a year-to-year basis, export volume growth was 16.9%, again the highest in the G7. Imports grew at the more modest rate of 3.9%.

In the United States, quarter-to-quarter trade volume growth was above the G7 average with 1.6% for exports and 2.3% for imports. Year-on-year, the upward trend continued in the third quarter of 2006. Exports grew by 9.0% and imports by 8.1%.

Japanese merchandise exports grew by 1.7% quarter-to-quarter and imports by 1.0%. Year-on-year, export volumes were up 10.8% while imports were 3.7% higher.

Trade in Goods and Services Values

Export growth of goods and services in OECD countries, measured in current US dollars, slowed to a seasonally-adjusted 2.3% quarter-on-quarter in the third quarter of 2006. The growth in imports slowed to 2.6% in the same period.

In value terms, growth in exports and imports of services in the third quarter was less than the growth in the trade of goods.

Year-on-year OECD export value growth for goods and services increased to 13.9%, while import growth, which remained higher, increased to 14.8%. Services trade growth year-on-year both for exports and imports lagged behind the corresponding goods trade growth.

In 2005 the total exports of goods and services of the 30 OECD member countries amounted to 8.5 trillion US Dollars, while imports were higher at 8.9 trillion USD. Goods accounted for 78% of OECD exports of goods and services and 81% of imports. G7 exports of goods and services in 2005 were 5.1 trillion USD and G7 imports of goods and services 5.7 trillion USD.

The OECD-Total covers the 30 OECD Member countries: Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States.