Exports up 13% in July 2018

 In News

Exports of Portuguese goods grew by 13% in July this year, at an accelerated rate compared to imports.

Compared with the same month last year, overseas sales were up 13% while purchases from abroad were up 11% according the National Statistics Institute (INE).

The increase in exports is largely down to fuels and lubricants. Excluding these petroleum products, exports grew 11% while imports were at 11.4%.

The data published by INE are nominal which means that they are not corrected in line with price variations while fuel and lubrication products are particularly sensitive to oscillations.

It was the third month that exports accelerated ahead of imports. Between January and April, imported goods outweighed the number of exported goods with direct results on the trade deficit imbalance.