G20 countries' goods trade rises in 1st quarter amid uncertainty

ISTANBUL

The Organization for Economic Cooperation and Development (OECD) reported Friday that G20 international goods trade saw a rise in the first quarter of 2025 as uncertainty increased with tariffs.

The total exports rose 2% in the first quarter compared to the previous quarter, while imports were up 3.1%.

The rise in exports mostly came from the EU countries, while the jump in imports was mostly attributable to the US.

North American trade experienced rises, with US exports increasing by 3.5%, driven partly by rising sales of aircraft and computers. Higher purchases of industrial supplies and pharmaceuticals also fueled import growth (19.0%), "with the announcement of new tariffs likely prompting importers to accelerate shipments in anticipation of higher future costs."

In Canada, exports increased by 4.1%, with higher sales of motor vehicles and energy products, particularly crude oil, the price of which increased due to declining inventories in the US. Canadian imports rose 1.9%, mainly due to higher purchases of motor vehicles and parts.

Trade results were mostly favorable for Europe. Both the UK (4.7%) and the EU (2.8%) saw increases in exports. Germany saw a 0.8% gain in exports and a 2.0% increase in imports, while Italy saw a 3.0% increase in exports, mostly due to medicines and medical goods.

Meanwhile, East Asia posted mixed trade data. Chinese exports were up 1.1% due to larger shipments of rare elements, while imports fell 3.7% as sales of mechanical and electrical products, such as integrated circuits, decreased.

On the other hand, services trade in G20 countries saw mixed results. Services exports declined 0.7% in the first quarter, while imports saw a rise of 1%.