Export growth slows to 5.3% in 2018, imports to 8.0%; deficit €17.13bn

  • Lusa
  • 8 February 2019

According to INE, exports and imports of goods slowed down in Portugal last year, with a total deficit of €17.13BN, breaking the acceleration witnessed the previous year, of 2017.

Portugal’s exports and imports of goods last year increased 5.3% and 8.0%, marking a slowdown from the rates of increase in 2017, while the trade deficit widened to €17.13 billion, the National Institute of Statistics (INE) said on Friday.

The deficit was €2.67 billion larger last year than in 2017, with the coverage rate of exports over imports shrinking by 2.0 percentage points to 77.2%, INE said in a statement.

In 2017, exports and imports of goods had expanded by 10.0% and 13.1% respectively.

Excluding fuels and lubricants, exports and imports last year swelled by 5.5% and 7.6% (down from increases of 8.9% and 11.4% in 2017).