Portuguese Trade Deficit Shrinks 20% YoY in April


In April 2013, exports increased by 17.3 percent yoy and imports by 9.2 percent, up from -3.5 percent and -9.9 percent respectively, a month earlier. The acceleration of exports and imports was partly due to a calendar effect since, in 2013, the Easter celebration took place in March whereas in 2012 it was celebrated in April. As far as exports are concerned, it should be stressed the contribution of the significant growth of the group of mineral fuels.

Exports increased by 17.3 percent when compared with April 2012, due to the evolution in both intra-EU and extra-EU trade, with increases in all groups of products but especially in mineral fuels, driven by the new refinery unit, and in food products. Imports increased by 9.2 percent due to the increases registered in almost all groups of products, mainly in vehicles and other transport equipment and also mineral fuels.

In terms of month-to-month growth rates, exports increased by 3.4 percent mainly due to increases in mineral fuels and vehicles and other transport equipment. Imports accounted for a 4.8 percent increase, reflecting the evolution the purchases of vehicles and other transport equipment.

In April 2013, intra-EU exports increased by 14.5 percent vis-à-vis April 2012. In the same period, exports to third countries (extra-EU) experienced a 24.2 percent increase as a result of the rise registered in almost all groups of products. Intra-EU imports increased by 5.4 percent while extra-EU imports were up 19.4 percent.

Portuguese Trade Deficit Shrinks 20% YoY in April


INE | Nuno Fontes | nuno@tradingeconomics.com
6/7/2013 11:30:15 AM