Fresh data on some major exporting economies encouraging that international trade is growing steadily, becoming the place of the previously missing link in the chain of a new global economic recovery, reports the Wall Street Journal.
South Korea, Taiwan and Brazil have already reported the September trade data - all there is growth compared with the previous month, although the levels are still well below last year. Taiwan this week reported that the total value of its exports fell by 12.7% in September compared with the previous year, significantly less than the fall in August, as exports decreased by 24,6%. For South Korea, the figures are 6.6% and 11.1% respectively. Brazilian exports in September is only slightly higher than August, compared with September 2008 fall of 31%.
recent fall in the dollar still dominates over the country who hope that the revival of trade will promote economic growth. Japan, in particular, suffers from a strong yen, which makes exports more expensive for foreign buyers. Japan reported on Thursday that its exports grew by 3.2% last month compared to August, taking into account seasonal correction, but it remains at 37.1% below the previous year.
broader picture of the situation in world trade is given in the next few days. U.S. report data on the volume of its international trade for August on Friday. China reported its figures for September on Monday. The International Monetary Fund estimates that the volume of world trade decline by 11.9% this year and will grow by 2.5% next year.
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