Portugal - Balanza comercial

Portugal's trade deficit came in at EUR 1.65 billion in October 2019, little-changed from EUR 1.64 billion in the same month last year. Exports jumped 8.4 percent to near all-time high, boosted by sales of transport equipment (12.9 percent), in particular passenger vehicles; industrial supplies (3.1 percent); and consumer goods (4.5 percent). Among major trade partners, exports increased to France (16.0 percent), the US (46.8 percent), Spain (4.9 percent), Germany (9.5 percent) and the UK (2.0 percent). Meanwhile, imports rose 6.5 percent to a record high, as purchases were up for transport equipment (19.3 percent), in particular aircraft; machinery & other capital goods (8.6 percent); and consumer goods (5.8 percent). Meanwhile, industrial supplies imports dropped 2.2 percent. Imports increased mainly from France (15.8 percent), Italy (4.6 percent), Spain (1.5 percent) and Germany (1.0 percent).

Portugal's trade deficit widened to EUR 1.80 billion in September 2019 from EUR 1.24 billion in the same month last year. Imports surged 13.2 percent due to a 40.4 percent jump in purchases of fuels and lubricants, mostly processed products, partly explained by the closure for maintenance of the Sines refinery in the first half of the month. Imports also increased for transport equipment (30.1 percent) and machinery and other capital goods (8.9 percent). Among key trade partners, imports were up from Spain (8.6 percent), Germany (14.3 percent) and France (33.8 percent). Meanwhile, exports rose at a softer 5.8 percent, boosted by sales of transport equipment (19.8 percent) and industrial supplies (1.5 percent). Exports grew mostly to Germany (11.8 percent) and France (9.4 percent).

Portugal's trade deficit narrowed to EUR 1.64 billion in August 2019 from EUR 1.72 billion in the same month last year, as imports fell 4 percent led by a 43.7 percent plunge in purchases of fuels and lubricants. Imports also decreased for industrial supplies (-2.1 percent) and food (-1.8 percent). Among key trade partners, imports fell from Germany (-5.2 percent), Italy (-3.3 percent) and the Netherlands (-10.6 percent). Meanwhile, exports declined at a softer 3.8 percent, led by decreases in sales of fuels and lubricants (-44.1 percent), industrial supplies (-4 percent) and consumer goods (-1.5 percent). Exports dropped to Spain (-4 percent), the US (-25.2 percent) and Italy (-9.9 percent).

Portugal's trade deficit widened to EUR 1.75 billion in July 2019 from EUR 1.30 billion in the same month last year, as imports jumped 7.9 percent to a near record high, mainly boosted by purchases of transport equipment (27.9 percent) in particular aircraft. Among key trading partners, imports rose mainly from France (67 percent), Spain (4.2 percent), China (35.1 percent) and Belgium (20.3 percent), but declined from Germany (-5.9 percent). Meanwhile, exports increased at a softer 1.3 percent on the back of a 3.9 percent rise in industrial supplies sales, while exports of fuels and lubricants tumbled 20.8 percent. Exports were up to France (10.8 percent) and the US (7.4 percent), but were down to Spain (-1.5 percent), Germany (-2.8 percent), and the UK (-6.7 percent).

Portugal's trade deficit widened to EUR 1.83 billion in June 2019 from EUR 1.68 billion in the same month last year. Exports fell for the first time in eight months by 8.3 percent, due mainly to lower sales of fuels and lubricants (-34.3 percent), consumer goods (-10.5 percent) and industrial supplies (-6.2 percent). Among major trade partners, exports were down to Spain (-9.2 percent), France (-3.5 percent), Germany (-1.5 percent), the UK (-10.1 percent) and the US (-11.7 percent). Meanwhile, imports dropped at a slower 4.1 percent, the first month of decline since May 2018, dragged by purchases of fuels and lubricants (-24.8 percent) and industrial supplies (-8.9 percent). On the other hand, transport equipment imports jumped 32.4 percent on the back of aircraft. Imports decreased from Spain (-4.4 percent), Germany (-7.3 percent), Italy (-2.7 percent) and the Netherlands (-13.1 percent), but rose from France (61.2 percent).

Portugal's trade deficit widened to EUR 1.63 billion in May 2019 from EUR 1.15 billion in the same month last year, as both exports and imports hit all-time highs. Imports jumped 14.7 percent, boosted by purchases of transport equipment (27.4 percent) mainly as a result of the acquisition of airplanes, and fuels and lubricants (43.2 percent) led by crude oil. Among major trade partners, imports rose from France (60.7 percent), Germany (9.6 percent) and the UK (49.4 percent). Exports rose at a slower 8.7 percent, driven by sales of transport equipment (21.9 percent) and machinery & other capital goods (9.8 percent). Exports increased mostly to France (21.7 percent) and Germany (11.6 percent).