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Portugal: Exports and imports increased by 11.7% and 21.4%, in nominal terms

Christian Fernsby |
In July 2021, exports and imports of goods recorded nominal year-on-year growth rates of +11.7% and +21.4%, respectively (+21.7% and +29.6% in June 2021, in the same order).

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Compared to July 2019, the rates of change were +4.1% and -2.0%, in the same order.

Excluding Fuels and lubricants, exports and imports grew by 8.6% and 15.2% respectively (+17.9% and +24.6%, in the same order, in June 2021). Vis-à-vis July 2019, exports increased by 4.8% and imports decreased by 2.2%.

The deficit of trade balance in goods increased by EUR 662 million when compared with the same month of 2020 (it decreased by EUR 371 million when compared with July 2019), amounting to EUR 1,493 million in July 2021. Excluding Fuels and lubricants, the trade deficit amounted to EUR 943 million.

In the quarter ended in July 2021, exports of goods increased by 26.6% and imports grew by 33.5% when compared with the same period of 2020 (+49.1% and +48.2%, in the same order, in the 2nd quarter of 2021).

When compared with the quarter ended in July 2019, exports increased by 2.2% and imports decreased by 2.8%.

In addition to the usual publication of monthly results, in this press release are also published the definitive results for 2020, which present slight revisions compared to the preliminary results released in June: annual rates of change of -10.3% in exports and -14.8% in imports compared to 2019, corresponding respectively to revisions of -0.1 p.p. and +0.3 p.p. compared to the preliminary results.


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