Exports skyrocket 29% in March

 In Economy, Exports, News

Portuguese exports and imports recovered in March on the same month in 2020 according to statistics provided by the INE.

The sale of export goods went up 28.8% in March compared to just 2.6% in February this year like-for-like on February 2020.
Imports increased 12.2% too in March in homologous terms when in February they had shrunk 10.4%.
“It should be noted that these homologous variations in March consider the first month of 2020 in which the impact of the Covid-19 pandemic had a significant effect,” states the National Statistics Institute.
The INE highlights increases in exports of transport materials which were up 61% and imports in industrial supplies which increased 15.1% and machinery and other capital goods which increased 27.3%.
Not counting fuel and oil and grease lubricants, exports and imports increased 27.9% and 15%, when in February they had increased 2.1% and contracted 9.8% respectively.
The data from the statistics organisation also show that the goods trade balance deficit fell €555 million on the same period in 2020, the deficit being €1Bn in March.
Excluding fuels and lubricants, the deficit fell €385 million, reaching €743 million. Exports of goods increased 6.2% and imports fell 5.3% in the first quarter of this year compared to the first quarter of 2020.
Compared to the first quarter of 2019, exports increased 3% and imports fell 8.4%.