Eurozone's trade surplus fell sharply in April

According to the report from Eurostat, 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. 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.