Analysis: Commission publishes second report on impact of coronavirus on EU trade

June 3, 2020

Commission publishes second report on impact of coronavirus on EU trade

The impact of the Covid-19 pandemic on global and EU trade – May 2020: https://trade.ec.europa.eu/doclib/docs/2020/may/tradoc_158764.pdf

According to the updated Commission estimates, the coronavirus pandemic will result in a decrease in global trade between 10%-16% in 2020.

For the EU27, the predicted reduction is expected to be between 9% and 15% for exports, and 11% and 14% for imports from non-EU countries (goods and services combined).

In absolute terms, using the latest available statistics, this amounts to a reduction in extra-EU27 exports between €282 and €470 billion and a decrease in extra-EU27 imports between €313 and €398 billion (goods and services combined).

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