In June 2020, the COVID-19 containment measures widely introduced by the Member States continued to have a noticeable impact on international trade in goods, although there are signs of improvement compared to the previous month.
The first estimate for euro area exports of goods to the rest of the world in June 2020 was €170.3
billion, a decrease of 10.0% compared with June 2019 (€189.3 bn). Imports from the rest of the world stood at €149.1 bn, a fall of 12.2% compared with June 2019 (€169.9 bn).
As a result, the euro area recorded a €21.2 bn surplus in trade in goods with the rest of the world in June 2020, compared with +€19.4 bn in June 2019. Intraeuro area trade fell to €150.6 bn in June 2020, down by 7.3% compared with June 2019.
In January to June 2020, euro area exports of goods to the rest of the world fell to €1 015.0 bn (a decrease of 12.7% compared with January-June 2019), and imports fell to €929.0 bn (a decrease of 12.9% compared with January-June 2019).
As a result the euro area recorded a surplus of €85.9 bn, compared with +€95.8 bn in January-June 2019. Intra-euro area trade fell to €868.8 bn in January-June 2020, down by 13.6% compared with
January-June 2019.
European Union
The first estimate for extra-EU exports of goods in June 2020 was €154.4 billion, down by 9.6% compared with June 2019 (€170.8 bn). Imports from the rest of the world stood at €133.7 bn, down by 12.8% compared with June 2019 (€153.3 bn).
As a result, the EU recorded a €20.7 bn surplus in trade in goods with the rest of the world in
June 2020, compared with +€17.5 bn in June 2019. Intra-EU trade fell to €235.4 bn in June 2020, -6.4% compared with June 2019.
In January to June 2020, extra-EU exports of goods fell to €921.6 bn (a decrease of 12.4% compared with January-June 2019), and imports fell to €847.5 bn (a decrease of 12.6% compared with January-June 2019).
As a result, the EU recorded a surplus of €74.1 bn, compared with +€81.5 bn in January-June 2019. Intra-EU trade fell to €1 360.4 bn in January-June 2020, -12.7% compared with January-June 2019.
Annual comparison by Member State
There are signs of improvement compared with the results observed for May and April 2020. The drops in the year to year comparison are less sharp in June 2020 and a few more increases are recorded.
In June 2020 compared with June 2019, extra-EU exports of goods decreased for 19 Member States with the largest decreases registered in Malta (-25.9%), France (-25.3%) and Romania (-23.3%). For eight Member States, exports of goods increased. The largest increases were registered in Estonia (+18.1%) and Slovenia (+11.6 %).
A comparable situation is observed for the extra-EU imports. In June 2020 compared to June 2019, 22 Member States recorded drops; fourteen of which were larger than 10%. The highest overall falls were observed in Malta (-48.7%) and Portugal (-33.5%). Among the five Member States where imports increased, Croatia (+24.7%) had the highest increase.
The euro area (EA19) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union (EU27) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden. ■
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