Exports from the euro area were still significantly lower in June than a year earlier as a result of restrictive measures due to the coronavirus. According to the European statistical office Eurostat, exports fell by 10% compared to a year earlier. After two months, exports were doing a little better with mins of more than 29%. In the first six months exports were 12.7% lower than in the first six months of last year. Imports of the 19 euro countries fell by 12.2% in June. The trade surplus was EUR 21.2 billion. The economic downturn in the euro area in the second quarter also resulted in a second estimate of 12.1% compared to the previous period. This is by far the sharpest drop since the start of measurements, reports the European statistical office Eurostat. The figure, based on a preliminary estimate, corresponds to the average expectation of economists. Already in the first quarter, the euro area economy declined by 3.6% in 19 countries. The economy of the European Union as a whole shrank by 11.7% compared to the previous three months, which was slightly less bad than the previously estimated 11.9% contraction. This, too, was by far the largest decline recorded by the statistical office.
Aybek Barysov, Gulmira Wakhitova and Kanat Ibraev among founders of Qazaqstanda Jasalğan economic movement
Aybek Barysov, Gulmira Wakhitova and Kanat Ibraev among founders of Qazaqstanda Jasalğan economic movement