Portugal Trade Deficit Narrows in December From a Year Earlier


In December 2012 exports decreased by 3.2 percent year-on-year, due to the fall in Intra-EU trade (namely in transport equipment and mineral products). Imports decreased by 7.9 percent vis-à-vis the figures of December 2011, as a result of the decline in Intra-EU trade (mostly due to machinery, mechanical appliances and in vehicles).

Exports of goods increased by 1 percent and imports decreased by 3 percent in the fourth quarter of 2012, when compared with the same period of 2011, which led to a EUR 533.7 million decrease in the deficit of the trade balance.

In the fourth quarter of 2012, as far as exports are concerned, the major decreases were registered in Transport equipment, parts and accessories (-14.8 percent) and in Fuels and lubricants (-8.7 percent), when compared with the period October to December 2011. On the other hand, Capital goods increased by 15.2 percent. During the same period, on the import side, the emphasis goes to the declines recorded in Transport equipment, parts and accessories (-14 percent) and in Consumer goods (-7.6 percent) and to the 5.2 percent increase in Fuels and lubricants.
 
The coverage rate stood at 81.2 percent, corresponding to an improvement of 3.2 p.p. when compared with the coverage rate of the period October to December 2011. In 2012 exports increased by 5.8 percent and imports decreased by 5.4 percent when compared with 2011.

INE | Nuno Fontes | nuno@tradingeconomics.com
2/11/2013 11:21:33 AM