Last Updated on Thursday, 16 July, 2020 at 12:25 pm by Andre Camilleri
In May 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 estimates for international trade in goods show that the results for both the euro area and the EU are considerably lower than those recorded in May 2019. In this release, Eurostat, the statistical office of the European Union, is publishing a set of data and graphs which help to capture the most recent developments in international trade in goods.
The first estimate for euro area exports of goods to the rest of the world in May 2020 was €143.3 billion, a decrease of 29.5% compared with May 2019 (€203.4 bn). Imports from the rest of the world stood at €133.9 bn, a fall of 26.7% compared with May 2019 (€182.7 bn). As a result, the euro area recorded a €9.4 bn surplus in trade in goods with the rest of the world in May 2020, compared with +€20.7 bn in May 2019. Intra-euro area trade fell to €125.3 bn in May 2020, down by 27.9% compared with May 2019.
In January to May 2020, euro area exports of goods to the rest of the world fell to €845.8 bn (a decrease of 13.1% compared with January-May 2019), and imports fell to €779.7 bn (a decrease of 13.1% compared with January-May 2019). As a result the euro area recorded a surplus of €66.1 bn, compared with +€76.5 bn in January-May 2019. Intra-euro area trade fell to €719.1 bn in January-May 2020, down by 14.7% compared with January-May 2019.
Euro area trade – non seasonally adjusted data bn €
| Flows | May 19 | May 20 | Growth | Jan-May 19 | Jan-May 20 | Growth | |
| Extra-EA exports | 203.4 | 143.3 | -29.5% | 973.2 | 845.8 | -13.1% | |
| Extra-EA imports | 182.7 | 133.9 | -26.7% | 896.8 | 779.7 | -13.1% | |
| Extra-EA trade balance | 20.7 | 9.4 | 76.5 | 66.1 | |||
| Intra-EA trade | 173.7 | 125.3 | -27.9% | 843.5 | 719.1 | -14.7% |
European Union
The first estimate for extra-EU exports of goods in May 2020 was €129.8 billion, down by 29.7% compared with May 2019 (€184.6 bn). Imports from the rest of the world stood at €122.6 bn, down by 26.2% compared with May 2019 (€166.1 bn). As a result, the EU recorded a €7.1 bn surplus in trade in goods with the rest of the world in May 2020, compared with +€18.6 bn in May 2019. Intra-EU trade fell to €195.7 bn in May 2020, -27.3% compared with May 2019.
In January to May 2020, extra-EU exports of goods fell to €767.7 bn (a decrease of 12.9% compared with January-May 2019), and imports fell to €712.9 bn (a decrease of 12.7% compared with January-May 2019). As a result, the EU recorded a surplus of €54.8 bn, compared with +€64.1 bn in January-May 2019. Intra-EU trade fell to €1 125.5 bn in January-May 2020, -13.8% compared with January-May 2019.
