Portuguese exports up 23.5% and imports up 15.5% for June

Portuguese exports of goods and imports rose 23.5% and 15.5%, respectively, in July, compared to the same month last year, according to data released this Monday by the National Institute of Statistics (INE).

This increase was largely influenced by work-to-order transactions. Discounting these operations meant the increases were 8.6% and 12.1%, respectively.

According to data from the national statistical body, transactions with a view to or following work to order, which includes processing, construction, assembly, improvement, renovation, modification, and conversion operations, with the aim of producing a new or actually improved item, and which does not necessarily imply a change in product classification, accounted for 13.9% of total exports and 3.8% of imports. Exports and imports.

Exports and imports thus reversed the falls of 4.1% and 6.2%, respectively, recorded in the previous month.

The trade balance deficit reached €2.085Bn, decreasing €168 million when compared to July 2023 and increasing €156 million compared to the previous month. Discounting transactions with a view to or following work on demand, the trade balance deficit increased by €501 million compared to July last year, and €754 million when compared to the previous month, totalling €2.806Bn.