Exports up 16% in November 2021, imports up 32%

  • Lusa
  • 10 January 2022

"In November 2021, exports and imports of goods recorded nominal year-on-year changes of +15.7% and +32.3%, respectively (+2.8% and +17.6%, in the same order, in October 2021)," INE announced.

Portuguese exports of goods increased 15.7% and imports rose 32.3% in November 2021 compared to the same month in 2020, Statistics Portugal (INE) said on Monday.

“In November 2021, exports and imports of goods recorded nominal year-on-year changes of +15.7% and +32.3%, respectively (+2.8% and +17.6%, in the same order, in October 2021),” INE’s international trade statistics point out.

Compared to November 2019, the pre-pandemic period, exports increased by 15.1% and imports by 17.0%.

According to INE, “noteworthy are the increases in exports and imports of ‘industrial supplies’ (+32.8% and +39.7%, respectively; +40.9% and +47.3% compared to November 2019) and in imports of ‘fuels and lubricants’ (+167.4%; +44.9% compared to November 2019).

When excluding fuels and lubricants, exports and imports increased by 15.9% and 23.7%, respectively (+0.8% and +9.8%, in the same order, in October 2021).

Compared with November 2019, exports (excluding fuels and lubricants) increased by 18.9% and imports grew by 14.0%.

Compared with the previous month, in November 2021 exports and imports increased by 7.3% and 6.6%, respectively (+2.0% and +4.6%, in the same order, in October 2021).

In the month under review, the deficit of the trade balance of goods increased by €1.16 billion compared to the same month of 2020 (increased by €389 million compared to November 2019), reaching just under €2.1 billion.