Trade deficit at €1,5 bn

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, according to data released today by Eurostat, the statistical service of the EU.

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.

Cyprus` total volume of exports in the reference period amounted to €1.0 bn down by -16% compared to the same period of 2019  (€0.3 bn to the EU or -58% decrease adn €0.7 bn with the rest of the world or 39% increase). Meanwhile the total volume of imports amounted to €2.5 bn or -4% decrease compared to the same period of 2019  (€1.4 bn or -5% decrease from the EU and €1.1bn or -2% decrease with the rest of the world). As a result Cyprus registered a trade deficit of €-1.5 bn compared to  €-1.4bn in the same period of 2019, € -1.1bn with the EU and €-0.4 with the rest of the world.

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.