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MNI BRIEF: EZ Exports Down 6.7% On Shipping Disruptions - ECB


Shipping disruptions during the recovery phase of the coronavirus pandemic have led to a fall in goods exports for the euro area of 6.7% and 2.3% globally, despite shipping volumes recovering since the trough seen in mid-2020, according to the ECB Economic Bulletin published Thursday.

Shipping routes from Asia to North America and from Asia to Europe have experienced the most severe strains and resultant cost increases. The euro area and EU member states have been significantly affected by shipping and input-related bottlenecks, especially in those export sectors experiencing the fastest recovery from the pandemic, with negative effects for export growth, the report said.

MNI London Bureau | +44 20 3983 7894 |
MNI London Bureau | +44 20 3983 7894 |

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