Deficit in balance of trade falls in April

Exports and imports of goods increased in April, with year-on-year increases of 15.5% and 8.9%, respectively, according to INE data. The trade deficit in goods decreased, now standing at €2,883 million.

Excluding transactions related to or following contract work (TTE), exports grew more significantly, by 16.9% compared to the same period last year.

Excluding the category of ‘fuels and lubricants’, exports increased by 14.3%, due to the high prices in this category. Export prices also registered a positive variation of 3.2%.

Despite the increase in exports, if analysed sequentially, they decreased by 1.7% in April. Looking at the quarter ending in April, exports showed an increase of 3.3%, but in accumulated terms for the year they decreased by 1.4% in the first four months.

The product category that showed the greatest increase in exports was ‘industrial supplies’, mainly base metals and machinery.

Spain was the main destination for national exports, followed by France and Germany.

In the case of imports, which increased by 8.9% in April, if we exclude the category of ‘fuels and lubricants’, they grew by 6.3%. Import prices showed a positive variation, the first since February 2025, of 2.6%.

Looking at the quarter ending in April, imports showed an increase of 5.9% compared to the same period last year, and year-to-date growth has already reached 4.7%.

The category of ‘transport equipment’ registered the largest increase, of 22.5%, followed by ‘machinery and other capital goods’, with a growth of 17.8%.

Spain led the increases, with a 13% rise in imports, while Ireland led the decreases, with a drop of 79.1%.

Source: Jornal Económico.