Companies expect 2.1% increase in exports of goods in 2020 – INE

  • Lusa
  • 10 January 2020

Companies expect to see exports increase by 2.1% this year, a figure that represents a slowdown from last year's forecasts.

Portuguese companies exporting goods expect a nominal growth of 2.1% in their exports in 2020 compared to the previous year, according to data released on Friday by Statistics Portugal (INE).

Companies expect an increase of 1.1% in exports to markets outside the European Union (EU) and 2.4% to Intra-EU countries. Excluding fuels and lubricants, the expected increase is 1.7% in 2020.

These figures, according to INE, show a deceleration from the perspectives indicated by companies for 2019 in the previous survey (of 4%), both for total exports and total exports without fuels and lubricants.

Another edition of this survey will be carried out in May 2020 to update the outlook of companies for the export of goods for 2020, which will correspond to the second forecast.

The prospects refer to nominal changes, thus reflecting the combined effect of expected changes in prices and quantities.

“In the particular case of fuels and lubricants, the prices observed have been characterised by very high volatility and amplitudes of change, dominating the direction and magnitude of nominal changes in international trade of this products,” the INE pointed out.