Last Updated on Monday, 15 June, 2020 at 2:04 pm by Andre Camilleri
In April 2020, the COVID-19 containment measures widely introduced by the Member States continued to have a significant impact on international trade in goods. The first estimate for euro area exports of goods to the rest of the world in April 2020 was €136.6 billion, a decrease of 29.3% compared with April 2019 (€193.3 bn). Imports from the rest of the world stood at €133.7 bn, a fall of 24.8% compared with April 2019 (€177.8 bn). As a result, the euro area recorded a €2.9 bn surplus in trade in goods with the rest of the world in April 2020, compared with +€15.5 bn in April 2019. Intra-euro area trade fell to €112.4 bn in April 2020, down by 32.2% compared with April 2019.
In January to April 2020, euro area exports of goods to the rest of the world fell to €703.3 bn (a decrease of 8.6% compared with January-April 2019), and imports fell to €646.3 bn (a decrease of 9.3% compared with January-April 2019). As a result the euro area recorded a surplus of €57.0 bn, compared with +€57.2 bn in January-April 2019. Intra-euro area trade fell to €595.4 bn in January-April 2020, down by 11.1% compared with January-April 2019.
Euro area trade – non seasonally adjusted data bn €
| Flows | Apr 19 | Apr 20 | Growth | Jan-Apr 19 | Jan-Apr 20 | Growth |
| Extra-EA exports | 193.3 | 136.6 | -29.3% | 769.5 | 703.3 | -8.6% |
| Extra-EA imports | 177.8 | 133.7 | -24.8% | 712.2 | 646.3 | -9.3% |
| Extra-EA trade balance | 15.5 | 2.9 | 57.2 | 57.0 | ||
| Intra-EA trade | 165.7 | 112.4 | -32.2% | 669.7 | 595.4 | -11.1% |
European Union
The first estimate for extra-EU exports of goods in April 2020 was €125.4 billion, down by 28.2% compared with April 2019 (€174.7 bn). Imports from the rest of the world stood at €125.1 bn, down by 22.7% compared with April 2019 (€161.8 bn). As a result, the EU recorded a €0.2 bn surplus in trade in goods with the rest of the world in April 2020, compared with +€12.9 bn in April 2019. Intra-EU trade fell to €175.2 bn in April 2020, -32% compared with April 2019.
In January to April 2020, extra-EU exports of goods fell to €638.2 bn (a decrease of 8.3% compared with January-April 2019), and imports fell to €590.5 bn (a decrease of 9% compared with January-April 2019). As a result, the EU recorded a surplus of €47.7 bn, compared with +€46.9 bn in January-April 2019. Intra-EU trade fell to €931.7 bn in January-April 2020, -10.2% compared with January-April 2019.
EU trade – non seasonally adjusted data bn €
| Flows | Apr 19 | Apr 20 | Growth | Jan-Apr 19 | Jan-Apr 20 | Growth |
| Extra-EU exports | 174.7 | 125.4 | -28.2% | 695.9 | 638.2 | -8.3% |
| Extra-EU imports | 161.8 | 125.1 | -22.7% | 648.9 | 590.5 | -9.0% |
| Extra-EU trade balance | 12.9 | 0.2 | 46.9 | 47.7 | ||
| Intra-EU trade | 257.8 | 175.2 | -32.0% | 1 037.0 | 931.7 | -10.2% |
Source dataset: ext_st_eu27_2020sitc
Main products – EU bn €
| Extra-EU exports | Extra-EU imports | Trade balance | ||||||
| Jan-Apr 19 | Jan-Apr 20 | Growth | Jan-Apr 19 | Jan-Apr 20 | Growth | Jan-Apr 19 | Jan-Apr 20 | |
| Total | 695.9 | 638.2 | -8.3% | 648.9 | 590.5 | -9.0% | 46.9 | 47.7 |
| Primary goods: | 105.7 | 97.8 | -7.5% | 191.1 | 157.3 | -17.7% | -85.4 | -59.4 |
| Food & drink | 52.2 | 55.4 | 6.1% | 39.6 | 39.1 | -1.3% | 12.6 | 16.3 |
| Raw materials | 19.1 | 17.6 | -7.9% | 27.7 | 27.3 | -1.4% | -8.6 | -9.7 |
| Energy | 34.4 | 24.9 | -27.6% | 123.8 | 90.9 | -26.6% | -89.5 | -66.0 |
| Manufactured goods: | 577.5 | 526.8 | -8.8% | 448.2 | 421.2 | -6.0% | 129.2 | 105.6 |
| Chemicals | 134.3 | 145.9 | 8.6% | 79.7 | 82.2 | 3.1% | 54.6 | 63.7 |
| Machinery & vehicles | 283.4 | 241.3 | -14.9% | 209.4 | 192.1 | -8.3% | 74.0 | 49.1 |
| Other manuf’d goods | 159.7 | 139.6 | -12.6% | 159.1 | 146.8 | -7.7% | 0.6 | -7.2 |
| Other | 12.7 | 13.6 | 7.1% | 9.6 | 12.0 | 25.0% | 3.1 | 1.6 |
Source dataset: ext_st_eu27_2020sitc
Main trading partners – EU bn €
| EU exports to | EU imports from | Trade balance | ||||||
| Jan-Apr 19 | Jan-Apr 20 | Growth | Jan-Apr 19 | Jan-Apr 20 | Growth | Jan-Apr 19 | Jan-Apr 20 | |
| United States | 125.0 | 120.9 | -3.3% | 77.6 | 76.8 | -1.0% | 47.4 | 44.0 |
| China | 64.0 | 60.4 | -5.6% | 115.9 | 113.7 | -1.9% | -51.9 | -53.3 |
| United Kingdom | 112.6 | 91.1 | -19.1% | 66.8 | 58.0 | -13.2% | 45.8 | 33.1 |
| Switzerland | 48.8 | 47.3 | -3.1% | 35.2 | 37.8 | 7.4% | 13.6 | 9.6 |
| Russia | 26.9 | 25.9 | -3.7% | 51.7 | 37.8 | -26.9% | -24.8 | -11.9 |
| Turkey | 21.7 | 22.1 | 1.8% | 23.8 | 20.6 | -13.4% | -2.2 | 1.6 |
| Japan | 19.8 | 18.9 | -4.5% | 21.9 | 19.8 | -9.6% | -2.1 | -0.9 |
| Norway | 17.2 | 15.6 | -9.3% | 19.5 | 15.5 | -20.5% | -2.3 | 0.2 |
| South Korea | 14.2 | 15.2 | 7.0% | 15.8 | 15.2 | -3.8% | -1.6 | 0.0 |
| India | 12.5 | 10.1 | -19.2% | 14.3 | 12.6 | -11.9% | -1.7 | -2.5 |
