Portuguese Trade Deficit Narrows in August

In August, Portugal's trade deficit narrowed slightly to €922 million from a gap of €1075 million a year earlier. This is a result of falling imports, down 3.5 percent year-on-year, as exports stagnated.

Exports registered a null variation when compared with August 2012 due to the rise in Intra-EU trade (mostly due to higher sales of mineral fuels) offsetting the reduction in Extra-EU trade (as a result of a drop in mineral fuels and machinery and mechanical appliances). 

Imports declined 3.5 percent compared to August of 2012, as a result of the evolution in Extra-EU trade (mainly due to lower purchases of vehicles and other transport equipment.

In terms of month-to-month growth rates, shipments decreased by 23.8 percent when compared with July due to the decrease recorded in almost all groups of products, more so in vehicles and other transport equipment and mechanical appliances. Imports decreased by 18.2 percent.

Portuguese Trade Deficit Narrows in August

INE | Nuno Fontes | nuno@tradingeconomics.com
10/9/2013 11:18:43 AM