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Exports up 11.4 percent as imports rise 21.4 percent

Exports up 11.4 percent as imports rise 21.4 percent

LISBON: In September, exports increased by 5.7 percent and imports rose by 8.5 percent year on year. According to INE figures, in the three months to October 2017, exports rose 10.2 percent and imports increased 14.1 percent, over the same period of 2016.

Considering October 2017 alone, in terms of year on year monthly variations, exports mainly increased due to a 14.1 percent increase in intraEU trade (+4.9 percent in September 2017).

The growth in imports also occurred mainly as a result of imports from Intra EU countries, which increased by 16.9 percent (+8.6 percent in September 2017). Excluding fuels and lubricants, exports increased by 13.0 percent year on year and imports grew by 19.9 percent (+4.1 percent and +7.9 percent in September 2017, respectively). According to INE, the balance of trade deficit totalled €1.536 billion in October 2017, or an increase of €613 million compared to the same month of 2016. Excluding fuels and lubricants, the balance of trade deficit was €1.074 billion, or a year on year increase of €344 million.