14/08/2020 14:05
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, marking a decrease of 10.0% compared with June 2019 (€189.3 bn). Imports from the rest of the world stood at €149.1 bln, a drop 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.
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.
For Cyprus the total worth of exports was €1.5bn or -10% compared to the same period of last year (€ 0.5 bn with the EU or -43% and €1.0 bn with the rest of the world or +21%). Meanwhile imports amounted to €3.6 bn or -11% (€2.1 bn from the EU or -12% and €1.5 bn from the rest of the world or -9%). As a result Cyprus recorded a trade deficit of € -2.1bn, compared to €-2.4 last year, € -1.6 with the EU and € -0.5 with the rest of the world.