Smaller Surplus in External Trade

In May 2020, the volume of exports was down by 26% and that of imports by 19% compared to the same period of the previous year. The surplus was EUR 102 million.

The surplus figure of EUR 102 million means the balance deteriorated by EUR 545 million compared to May 2019. According to calendar-adjusted data by the Central Statistical Office, the export volume decreased by 22% and the import volume by 15%.

In January–May 2020, the surplus on the balance of external trade in goods amounted to EUR 1.4 billion, EUR 1.3 billion less than a year earlier. Due to the subdued performance of the productive branches as well as to global demand continuing to lessen, the level of external trade in goods continued to be lower in the period under review than the base last year.

In May 2020 compared to a year earlier, the volume of exports to EU-27 Member States decreased by 27% and that of imports from there by 29%. The surplus on external trade in goods lessened by EUR 127 million and amounted to EUR 868 million. These countries accounted for 78% of exports and 66% of imports.

Over the same period, n extra-EU-27 trade, the volume of exports became 19% lower, while that of imports 10% larger. The balance of external trade in goods with this group of countries deteriorated by EUR 418 million and showed a deficit of EUR 766 million.