Portugal’s Trade Deficit Narrows in September


In September, Portuguese trade deficit narrowed to € 917 million, from € 927 million in August and € 1093 million a year earlier. Both imports and exports were up on the year, but shipments rose at a faster pace.

Exports registered a 9.8 percent increase when compared with September of 2012, mainly due to the evolution of both Intra-EU and Extra-EU trade, with increases in almost all groups of products (especially mineral fuels).

Imports increased by 3.7 percent in comparison with September of 2012, as a result of the increase in Intra-EU trade (reflected in almost all groups of products) which counterbalanced the reduction in Extra-EU trade (mostly from mineral fuels).

In terms of month-to-month growth rates, shipments increased by 18.7 percent when compared with August 2013, mainly due to the 6.8 percent increase in Intra-EU trade (especially in vehicles and other transport equipment and machinery and mechanical appliances). Imports increased by 14.4 percent, mostly due to the evolution of Intra-EU trade (up by 20.6 percent).

Portugal’s Trade Deficit Narrows in September


INE | Krisztina Györffy | krisztina@tradingeconomics.com
11/11/2013 11:48:13 AM