Exports of goods rose 6.6% year-on-year in September 2016

Year-on-year until September, exports of goods and services were rising while the imports were dropping

According to the international trade statistics from INE – Statistics Portugal, in September exports and imports of goods rose 6.6% and 1.9% year-on-year, respectively. Excluding Fuels and Lubrificants, exports and imports increased by 7.8% and 3.6%, respectively, vis-à-vis September 2015. In the aggregate from January to September 2016, exports and imports fell 0.4% and 0.6% year-on-year, respectively, with the trade balance deficit narrowing by 148 million euros.

The balance of goods and services registered a surplus of 3 606 million euros until September, higher than the 2 847 million euros recorded in the same period in 2015, as a result of the 0.4% increase in exports and the 1.0% decline in imports.

Tourist activity maintained its growing trend in September 2016, a higher increase than in the previous month. Hotel establishments recorded 2.1 million guests and 5.9 million overnight stays, corresponding to 7.5% and 6.5% year-on-year increases, respectively. Total revenue and revenue from accommodation growth rates reached 16.5% and 16.2%, respectively.

Regarding the balance of payments, and according to the Portuguese Central Bank (Banco de Portugal), the aggregate balance of the current and capital accounts was 1 358 million euros in the first nine months of the year, lower than the 2 147 million euros for the same period in 2015.