EUROSTAT - EU trade in goods strongly impacted by the COVID-19 pandemic in 2020

25 March 2021 |

n 2020, the trade of the European Union of 27 Member States (EU) was hit hard by the coronavirus pandemic, with significant falls observed for both exports (-9.4%) and imports (-11.6%) compared with 2019.
Looking at the last decade, the export growth rate, after recording particularly high values (12% in 2011 and 9% in 2012), remained positive until 2019 before sharply decreasing in 2020. The import growth rate peaked in 2011 (12%), followed by small fluctuations between 2012 and 2015, before growing significantly in 2017 and 2018, and closing the decade with a sharp decrease in 2020.
In 2020, the EU trade in goods balance was in surplus by €217 billion. Looking at the trend over time, after recording a small deficit in 2011, the EU trade balance subsequently recorded a continuous surplus, peaking at €264 billion in 2016. The surplus decreased in 2017 and 2018, then increased again in 2019 and 2020.

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