Portugal: Exports fall 4.6% yoy in July

Page created: Friday, 9 September 2016 15:09 GMT

Exports  Imports   Internationnal Trade

Lisbon, Sept. 9 (Lusa) – Portuguese exports in July fell by 4,6% year on year, according to figures released on Friday by the National Statistics Institute (INE).


According to INE, exports to countries outside the European Union (EU) had the biggest effect on the overall drop in exports seen in July of this year.


Exports to Angola fell 39.9%, exports to the United States by 22.6% and by 29.6% to China. In terms of imports there was a drop of 5.7% in purchases from Spain, which had the most significant effect on the overall drop in imports in the period, INE said.


There was also a significant drop in imports from Angola (-54.7%) and the United States (-23.4%), compared to July 2015.


The visible trade balance (not including services and other intangibles) in July was reduced by €174 million compared to July 2015, whilst the trade deficit, excluding fuels and other oil derivatives, fell by €13 million to €353 million.