Export-dependent nations need to re-assess their business models because of the lasting impact of the Covid-19 pandemic on global trade.
Exports from Europe rebounded month on month in May, but remain well below pre-virus levels. In Germany and France, the value of goods exported in May was between 35 and 40 per cent below the same month last year.
This is probably partly because some of Europe’s major trade partners, such as the UK and the US, still had lockdowns in place in May.