Portuguese Trade Deficit Widens in July


In July, Portugal's trade deficit widened to €902 million from a gap of €634 million a year earlier. This is a result of a faster increase in imports (10.5 percent) than that of exports (5.5 percent).

In July, exports increased by 5.5 percent when compared with July 2012, as a result of the evolution in both Intra-EU and Extra-EU trade, mostly due to rising mineral fuels sales. In terms of month-to-month growth rates, shipments increased by 9.6 percent due to increases in almost all groups of products, particularly in footwear, mineral fuels and machinery and mechanical appliances. 

Imports increased by 10.5 percent yoy as a result of the evolution in Intra-EU trade, mainly due to mineral fuels, vehicles and other transport equipment purchases. In terms of month-to-month growth rates, inflows increased by 13.1 percent as a result of the reflecting increases recorded in almost all groups of products. 

Portuguese Trade Deficit Widens in July


INE | Nuno Fontes | nuno@tradingeconomics.com
9/6/2013 11:42:26 AM