Charts of the Week
Charts of the week from 4 to 8 May 2026: number of registered unemployed, exports and imports of goods
The number of registered unemployed fell month-on-month in April (seasonally adjusted) and was also lower year-on-year in the first four months (–0.4%). However, the number of unemployed young people has been rising since October 2024, which we assess as reflecting the entry of larger cohorts into the labour market. Goods exports, which have been gradually strengthening since mid-last year, increased by 0.9% in the first quarter and were 1.0% higher year-on-year (while imports were up 2.5% year-on-year). Export orders remained relatively low in April. In addition to the existing constraints (uncertain economic conditions, weak foreign demand and shortages of skilled labour), the war in the Middle East has also raised the risk of raw material shortages, although companies currently assess this risk as low.
Number of registered unemployed, April 2026
The number of registered unemployed fell month-on-month in April (seasonally adjusted) and was also slightly lower year-on-year (both by 0.4%). According to original data, 44,175 people were unemployed at the end of April, 3.5% less than at the end of March. The year-on-year decline in the number of long-term unemployed and unemployed persons aged over 50 continued (down 5.6% and 3.7% respectively). The number of unemployed young people (aged 15–29), which has recorded year-on-year increases since October 2024, exceeded its level from a year earlier by 4.7% in April, reaching 9,417 persons. This may be at least partly related to the increase in the size of cohorts entering the labour market (between 2023 and 2025, the number of residents aged 15–29 increased by ten thousand), while demand for labour has moderated.
Exports and imports of goods, March 2026
Goods exports increased quarter-on-quarter in the first quarter of this year, while imports declined (seasonally adjusted); both remained higher year-on-year. Compared with the previous quarter, real exports of goods increased by 0.9% (including a 2.2% increase in exports to the EU), while imports declined by 0.3% following decreases in January and February (including a 0.6% fall in imports from the EU). Exports were driven by higher exports of metals, pharmaceutical and metal products, and primary products (excluding petroleum products), while exports of vehicles also increased slightly (to France and Germany). By contrast, exports of other machinery and equipment – which account for around one-fifth of total exports – declined significantly. On the import side, imports of intermediate and capital goods decreased, while imports of consumer goods increased. Imports of petroleum products rose markedly in both value and volume terms in March; nevertheless, owing to negative developments in January, they declined quarter-on-quarter overall in the first quarter. Compared with the same period last year, both exports and imports of goods remained higher in the first quarter of this year (by 1.0% and 2.5% respectively), while only imports from EU countries were slightly lower.
Export orders showed no significant change in April and remained at a relatively low level. In the second quarter, companies continued to cite uncertain economic conditions, weak foreign demand, and a shortage of skilled labour as the main limiting factors to business operations. Amid heightened uncertainty in the international environment due to the war in the Middle East, the risk of shortages of raw materials also increased, although it remains at a relatively low level.