Exports rise 7.2% in 2021

 In Companies, Economy, Exports, News

Portuguese export companies are upbeat as the exports of goods in the first half of 2021 shot up 7.2%.

This is according to the latest statistics from the National Statistics Institute (INE) which are estimates for the year based on exports for the first few months of 2021.
Exports are also being driven by the European Union internal market as well as demand from outside the EU.
“Exporting companies expect a nominal growth of 7.2% in their exports of goods in 2021, reviewing initial forecasts for 2021 made in November 2020, upwards by 2.3 percentage points,” states the INE.
The INE explains that this review is the “result of expectations for Intra-EU exports (+1.9 pp to 7.0% and Extra-EU (+3.2 pp., to 7.5%)”.
Despite having registered figures for the first half of 2021 above those in 2019, the expectation is that exports of goods for the year as a whole will not have recovered totally.
“Judging by this forecast, exports of goods in 2021 will be around 10.6% less than the values registered for International Trade in 2019”, states the INE.