Growth in merchandise trade exports in the Group of Seven countries slowed to a seasonally adjusted 0.4%, in the second quarter of 2007 compared with the previous quarter while import volumes fell 0.4%. On a year-on-year basis, G7 trade volumes continued to grow at lower rates, with both exports and imports up 2.3%.

Merchandise Trade Volume Data

Germany’s merchandise trade exports fell 1.6% compared with the first quarter. Imports were 1.9% lower. On a year-on-year basis, exports rose 9.1% while imports grew 12.2%.

In the United States, quarter-on-quarter trade exports grew 1.5%, while imports fell 0.6%. On a year-on-year basis exports were up 6.8% in the second quarter of 2007 and import volumes rose by 1.8%.

Japanese merchandise exports grew 1.4% compared with the previous quarter while imports continued to fall, slipping 1.6%. Year-on-year, export volumes were up 4.1% while imports fell 3.6%.

Trade in Goods and Services by Value

Exports of goods and services in OECD countries, measured in current US dollars, rose by a seasonally-adjusted 3.9% quarter-on-quarter in the first quarter of 2007. Imports rose 3.5% in the same period.

In value terms, for both trade in goods and trade in services, export growth exceeded the growth in corresponding imports in the first quarter.

Export value growth for goods and services in OECD countries slowed to 12.5% year-on-year, while import growth eased to 10.1%.