Charts of the Week
Charts of the week from 3 to 7 June 2024: trade in goods, turnover in market services and number of registered unemployed
Trade in goods decreased month-on-month in April but increased year-on-year. In the first four months, exports and imports of goods remained on average lower year-on-year. Sentiment in export-oriented activities improved in May, although export orders remained at a very low level. Total real turnover in market services continued to rise in the first quarter and was also higher year-on-year. According to original data, 44,088 people were unemployed at the end of May, 6.6% fewer than a year ago. Amid labour shortages, the number of long-term unemployed and unemployed people over 50 fell year-on-year, by 14.5% and 8.8% respectively.
Trade in goods – in real terms, April 2024
In April, trade in goods declined month-on-month but increased year-on-year. Real seasonally adjusted exports of goods fell by 0.4% and imports by 1.5%. The decline was due to trade with non-EU countries, while exports to and imports from EU Member States increased slightly (trade with France in particular increased, while trade with Austria and Italy declined). Exports of most main product groups increased, while exports of primary products and of metals and metal products were lower. Imports of consumer goods fell for the third consecutive month, while imports of intermediate goods rose, reaching the highest level since the beginning of the year (seasonally adjusted). In the first four months, exports and imports of goods (including with EU Member States) were still on average lower year-on-year (by 1.6% and 1.2% respectively). Sentiment in export-oriented activities improved in May, but export orders remained at a very low level.
Turnover in market services, March 2024
Total real turnover in market services continued to rise in the first quarter (by 1.5%) and was also higher year-on-year (by 1.2%). Turnover growth in information and communication accelerated compared to the previous quarter, with sales of computer services increasing, particularly in the domestic market. Turnover growth also accelerated in professional and technical activities, driven by continued growth in architectural and engineering services. Turnover growth in administrative and support service activities slowed somewhat, despite a renewed growth in employment services. With a higher number of overnight stays, turnover in accommodation and food service activities was similar to the level recorded at the end of last year, as was the case in transportation and storage too. In the first quarter, total real turnover in market services was only lower year-on-year in transportation and storage.
Number of registered unemployed, May 2024
The monthly decline in the number of seasonally adjusted registered unemployed in May (0.7%) was slightly lower than in previous months. According to original data, 44,088 people were unemployed at the end of May, 6.6% less than a year ago. Amid labour shortages, the number of long-term unemployed (more than 1 year) and the number of unemployed over 50 fell year-on-year at the end of May, by 14.5% and 8.8% respectively. In the first five months, just over 1% of the unemployed moved to inactivity or retirement each month, also contributing to the decline in unemployment.