Exports from both the advanced and the leading emerging economies slowed sharply in the first three months of this year, according to new figures that raise concerns about the health of the global recovery.
The Organisation for Economic Cooperation and Development said yesterday that exports by the G7 and Brics economies had fallen by a collective 2.6 per cent in the first quarter of 2014 from the previous three months. Imports from the same countries fell by 0.1 per cent in the same period.
The data confirm fears that global trade had a slow start to 2014 despite predictions from the World Trade Organisation and others of a return to buoyant growth after several dire years.
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