• international
• ||
• May 30, 2024

Here’s a breakdown of what happened:

• Merchandise Exports Rise: These exports increased by 1.9% compared to the previous quarter (Q4 2023). This growth was driven in large part by China, which saw a significant rise in exports of steel and machinery.
• Travel Boosts Services Trade: Trade isn’t just about physical goods. It also includes services, like tourism and financial services. In Q1 2024, there was a continued growth in services trade, likely due to an increase in international travel. People traveling abroad means more spending on things like hotels, transportation, and entertainment, which boosts the service sector of the economy.

More info here and here.