In May, Portuguese exports fell by 39% compared to the same period last year, registering significant decreases in all product categories.
Imports also fell by 40,2%, according to data from the National Institute of Statistics (INE).
The transport equipment category, which includes motor vehicles, stands out negatively, with a 54% decrease in exports and a 66,6% decrease in imports. Excluding fuels and lubricants, exports and imports decreased by 35,2% and 35,1%, respectively.
Trade deficit is falling.
Data from the INE (National Institute of Statistics) shows that the trade deficit decreased by 722 million euros compared to the same period in 2019, reaching 908 million euros. Excluding fuels and lubricants, the negative trade balance was 778 million euros, 420 million less than in May 2019.
The INE (National Institute of Statistics) highlights that this information, relating to May, already reflects the effects of the Covid-19 pandemic, both on the behavior of economic activity and on the amount of primary information available in the compilation of the results presented.
