The G7 nations together account for approximately two-thirds of the world's economic output. They are:
The OECD said Germany’s merchandise exports stagnated at 0.3 percent volume growth compared to the previous quarter while import growth rose a modest 0.7 percent. On a year-to-year basis, trade volume growth slowed to 8.0 percent for exports and 2.6 percent for imports.
In the U.S., quarter-to-quarter trade volume growth slowed as well. Exports rose only 1.8 percent while imports were -1.0 percent. Year-on-year, the upward trend continued in the second quarter of 2006 with 9.6 percent volume growth for exports and 6.4 percent for imports.
Japan's merchandise trade volume growth stagnated at 0.0 percent for exports, according to the OECD, and 0.5 percent for imports. Year-on-year, export volumes were up 9.3 percent and imports were 4.8 percent higher.
The United Kingdom’s export volume growth was above G7 average at 4.7 percent compared with the previous quarter and 18.4 percent on a year-to-year basis. Import volume growth was 0.9 percent quarter-to-quarter and imports up 6.0 percent year-to-year.
Export growth of goods and services in OECD countries measured in current U.S. dollars increased slightly to a seasonally adjusted 5.1 percent quarter-on-quarter in the second quarter of 2006. Imports growth was steady at 4.8 percent in the same period.