The euro zone's trade surplus plunged year-on-year in April as pandemic lockdowns of economies around the world slashed trade volumes.

This is according to data from the European Union's statistics office Eurostat. 

Eurostat said the external trade surplus of the 19 countries sharing the euro dropped to an unadjusted €2.9 billion in April from €15.5 billion a year earlier as exports plunged by 29.3% year-on-year and imports fell 24.8%. 

Adjusted for seasonal swings, the euro zone trade surplus was even smaller at €1.2 billion, a fraction of the €25.5 billion the month before. 

Exports of Europe's biggest exporter Germany plunged by almost a quarter month-on-month and by more than a third France and Italy.