Portuguese exports increased 13% in July, accelerating in relation to the previous month (9%), while imports increased by 11% year-on-year, slowing down compared to June (16.5%).
According to data released by the National Statistical Institute (INE), excluding fuels and lubricants, exports increased by 11% and imports grew by 11.4% (against 7.3% and 8.6%, respectively in June 2018). The deficit of the trade balance of goods worsened by 32 million euros compared to the same month of 2017, to 1.168 billion euros. Excluding fuels and lubricants, the trade balance reached a negative balance of 788 million euros, corresponding to a deficit increase of 98 million euros compared to July 2017.
In the quarter ended July 2018, exports and imports of goods increased, respectively, by 9.4% and 8.7% over the same period in 2017.