Exports still low

27/08/2009 15:00

In June 2009, the volume of goods exports was almost 12 percent down on twelve months previously. The volume of goods imports decreased by more than 15 percent. A decline of this magnitude is unprecedented since 1991, when the survey was started. Volume figures have been corrected for the number of working days.

In June, the value of exported goods totalled 25.7 billion euro, a 20 percent drop compared with one year previously. The value of imports plunged by 23 percent to 22.6 billion euro. The trade surplus amounted to 3.1 billion euro, i.e. 0.4 billion euro more than in June 2008. In May, the trade surplus was also marginally higher than one year previously, whereas in the preceding twelve months the trade surplus was each month below the level of the same month one year previously.

The value of imports and exports of mineral fuels in particular declined steeply, but exports of chemical products and food and drinks declined far less than total exports. The value of goods exported to EU countries dropped more sharply than to non-EU countries. On the other hand, the value of goods imported from non-EU countries declined more than the value of goods imported from EU countries.

Mainly as a result of plummeting petroleum and natural gas prices, import and export prices dropped by about 9 percent in June compared with one year previously. As a result, the terms of trade of foreign goods deteriorated marginally relative to June 2008.

The figures on June 2009 published in this update have been adjusted from those published on 13 August 2009. The revision is based on new and more detailed information.

Goods exports (volume)

Goods exports (volume)

More figures can be found on the theme page International trade.