Exports increase 13% in July and imports grow 11%

  • ECO News
  • 10 September 2018

Portugal's exports increased by 13% in July, accelerating compared to the previous month (9%), while imports registered a year-on-year increase of 11%, a downturn compared to June (16.5%).

Data published on Monday by the National Statistics Institute (INE), excluding fuels and lubricants, showed that exports increased by 11% and imports grew by 11.4% (against the 7.3% and 8.6% rise, respectively, in June 2018).

The deficit of goods’ trade was €32 million greater than the same month in 2017, expanding to €1.168 billion.

Excluding fuels and lubricants, the trade balance reached a negative balance of €788 million, corresponding to an increase in the €98M deficit against July 2017.

In the quarter that ended in July 2018, exports and imports of goods rose, respectively, 9.4% and 8.7% compared to 2017.

INE also said that in July 2018, considering the main destination countries in 2017 and compared to the same month in 2017, there was a growth of exports to Spain (which rose 19.2%) and Italy (increased by 53.7%).

Exports to Angola recorded, once more, the biggest decrease of 21.4% compared to 2017.

Regarding the main suppliers in 2017, in July 2018 the most significant year-on-year increases were in the imports from Spain and Germany (5% and 10.7% respectively).

Imports from Brazil and Russia decreased (by 52.3% and 19.2%, respectively), mostly due to fuels and lubricants.

Source: Lusa