April exports down 3.6% YoY, imports 5.7%; first drop since 2021

  • Lusa
  • 9 June 2023

"Since the first months of 2021, there has been no decrease in Portugal's transactions of goods with foreign markets," informs INE.

Portugal’s exports and imports in April were down 3.6% and 5.7% respectively on the same month in 2022, marking their first year-on-year declines since early 2021, the National Statistics Institute (INE) announced on Friday.

“In April 2023, exports and imports of goods recorded nominal year-on-year rates of change of -3.6% and -5.7%, respectively (+18.6% and +9.6%, in the same order, in March 2023),” reads the INE release. “It should be noted that April 2023 had one less working day than the same month in 2022 and five fewer working days than the previous month.

“Since the first months of 2021, there has been no decrease in Portugal’s transactions of goods with foreign markets,” it adds.

In a separate release, INE reported that an analysis of European Union trade figures for last year found that “the evolution of Portuguese exports of goods to the three main destination markets (Spain, France, and Germany) shows that, in 2022, national exports to these three markets were less dynamic, indicating possible losses of market share, while national imports grew more than total exports of these countries.”