All the states in the sample, without exception, experienced a major decrease in the volume of goods and services exported. The most affected by the pandemic were Croatia and Hungary, which recorded decreases of -26.8% and -14.6%, respectively, in 2020 compared to the previous year. Romania, Bulgaria, Slovenia and Slovakia experienced contractions between -9% and -7%, while Latvia, Lithuania and Poland suffered less compared to other states, reaching rates below -3% compared to 2019.

CEE banking systems during the pandemic event