International merchandise trade grew for the seventh consecutive quarter on boosted exchanges over the globe, the Paris-based Organization for Economic Cooperation and Development (OECD) said on Wednesday.
According to its quarterly figures, international exports increased by 2.7 percent while imports was up by 3 percent during the fourth quarter of 2017.
The think-tank figures showed that sales abroad and purchases of the European Union increased by 2.9 percent and 2.4 percent respectively, up from zero growth and -1.8 percent recorded at the same period in 2016.
Germany and France, the European bloc's leading powerhouses, saw their exports rise by 2.2 percent and 3.3 percent respectively.
As to NAFTA countries, the report pointed to growing trade activities in all the member states with the U.S. offer to foreign markets rising by 3.6 percent while its imports was up by 5.7 percent. The same positive trend was also recorded in Canada.
Over the whole year of 2017 , G20 exports and imports grew by 10 percent and 11.5 percent respectively with Russia and Australia recording the highest export growth of 25.4 percent and 20.5 percent.
With 23.2 percent growth in its purchases, India was the largest importer over the period.
The report also showed that China and Argentina registered the lowest export trend with 6.3 percent and 1 percent, according to the report.
G20 countries account for 85 percent of the international trade and represent a lucrative market of billons of consumers.