Data

Statistical release, 25 February 2025

G20 merchandise trade declined in Q4 2024, with exports and imports falling by 0.6% and 1.0%, respectively. In contrast, services trade showed a mixed trend, as exports increased by 1.5% while imports remained stable.

China’s exports grew by 4.3%, driven by strong sales of electronics, particularly mobile phones and computers. However, imports declined by 0.7%, mainly due to lower purchases of agricultural products like soybeans and crude petroleum. India saw strong growth in both exports and imports, with exports rising by 8.2%, supported by increased sales of electronic goods and ready-made garments.

India also recorded robust growth in services trade, with both exports and imports increasing by 7.4%. China’s services exports surged by 7.1%, supported by rising travel and ICT service revenues. Meanwhile, Japan experienced a strong rise in services exports (4.7%), while imports declined due to reduced spending on insurance and other business services.