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International trade and balance of payments statistics

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‌International trade outlook points to sharp deterioration in April 

 

14/05/2020 - Covid-19 related lockdown measures hit international trade hard in March 2020, with evidence emerging of a sharp deterioration in April as demand stalled and supply chains continued to be disrupted. Travel and transport services, in particular, collapsed.  

Signs of recovery in Asia from the initial outbreak wiped out in April
China’s merchandise exports fell sharply in the beginning of 2020, with exports down 13.3% in the first quarter, compared to the same quarter of 20191. Korean trade over the first quarter of 2020 held-up relatively well however. Although imports fell in February (by 5.7% compared to January), following disruption in Chinese supply-chains, they rebounded in March (up 4.4% on February) as Chinese factories resumed operations. Japanese imports also bounced back in March (up 9.7% on February) following the significant contraction (minus 7.6%) in February.

 

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