Exports and imports increased by 9.0% and 8.9% respectively, in nominal terms
In February 2017, exports and imports of goods recorded year-on-year nominal growth rates of +9.0% and +8.9% respectively (+19.1% and +22.4% in the same order, in January 2017). Excluding Fuels and lubricants, exports increased by 5.5% and imports grew by 4.0% (+16.6% and +15.1% respectively, in January 2017).
The deficit of trade balance reached EUR 746 million in February 2017, increasing by EUR 58 million when compared with February 2016. Excluding Fuels and lubricants, the trade balance stood at EUR -456 million, corresponding to a reduction of EUR 35 million in the trade deficit compared to February 2016.
In the quarter ended in February 2017, exports and imports of goods increased by 13.3% and 14.7% respectively, vis-à-vis the quarter ended in February 2016.
Besides the usual information, this Press release includes specific information (only available in Portuguese) concerning the transactions of goods in the year 2016. In 2016, exports of goods increased by 1.0% and imports of goods grew by 1.3% vis-à-vis the preceding year. The Spanish market contributed the most for the overall increase in exports, while in imports Russia was the main contributor, due to purchases of fuels and lubricants. In terms of goods, in 2016, the increase in exports of Consumer goods and in imports of Transport equipment stood out. On the other hand, significant reductions in transactions of fuels and lubricants continued to occur. In fact excluding Fuels and lubricants, exports grew by 2.5% and imports by 4.9%.