Portugal Trade Deficit Narrows Year-on-Year in February

In year-on-year terms, in February 2013, exports decreased by 2.6 percent and imports decreased by 6.4 percent. Exports of goods increased by 0.8 percent and imports decreased by 6.1 percent in the quarter ended in February when compared with the period December 2011 to February 2012, which led to a € 931 million decrease in the deficit of the trade balance.

In February, exports decreased by 4.4 percent when compared with January 2013, mainly due to the evolution in Intra-EU trade (which occurred in almost all groups of products, but more so in machinery and mechanical appliances and in plastics and rubber). Imports accounted for a 1.2 percent decrease, almost exclusively due to the decline in Intra-EU trade (namely in machinery and mechanical appliances).

Compared to February 2012, there was a 2.5 percent decrease in Intra-EU exports, especially due to the evolution in Vehicles and other transport equipment (namely passenger motor cars, motor vehicles for the transport of goods and accessories of motor vehicles). Intra-EU imports decreased by 10.5 percent mainly due to machinery and mechanical appliances, mineral fuels, vehicles and other transport equipment.

INE | Nuno Fontes | nuno@tradingeconomics.com
4/9/2013 11:24:47 AM