Commodity prices increase, G20 records new high in Q1| MENAFN.COM

Saturday, 02 July 2022 06:23 GMT

Commodity prices increase, G20 records new high in Q1

(MENAFN) On Tuesday, the Organization for Economic Cooperation and Development (OECD) stated that building from a year and half increase, global merchandise exchange for the G20 records a peak with USD9.4 trillion in the January-March period of 2022.

Data presented that G20 outputs raised 3.6 percent quarterly to USD4.6 trillion in first quarter, whereas imports jumped 5.8 percent to USD4.8 trillion.

The expansion was motivated by increasing commodity costs after Russia's attack on Ukraine and strict COVID-19 restraint procedures in East Asia, the Paris-based group stated in an announcement.

Because of chip deficiencies weighing on shipments of automobiles and parts, Japanese exports increased 0.8 percent, whereas energy and raw material costs grew imports 7.0 percent from the prior three.


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