RTTNews - Exports from OECD countries dropped 13.4% sequentially in the first quarter after falling 18.5% in the fourth quarter of 2008, the Organization for Economic Cooperation and Development said Wednesday. Meanwhile, imports dropped 15.2%.
Exports of goods fell 15.1% and that of services dropped 8.1%. On the other hand, imports of goods were 17.1% lower and that of services declined 7.5%.
On a year-on-year basis, total exports and imports plunged 27.1% and 27.9%, respectively.
The OECD said G7 exports fell 13.6% quarter-on-quarter while imports were down 10.5% in the first quarter. Year-on-year exports markedly dropped by 22.8% and imports fell 16.8%.
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