Exports fall 9.8% and imports 17.2% in January business

Portuguese exports and imports of goods worsened year-over-year decline in January, declining 9.8% and 17.2% respectively, the National Statistics Institute (INE) said on Friday. In the international trade statistics of INE it says: “In January 2021, the exports and imports of goods recorded nominal changes compared to the previous year of -9.8% and -17.2% (-7.4% and -6.5%) in the same order). in December 2020) “.

“These developments were made strong by the sharp decline in exports and imports of“ fuels and lubricants ”(-39.3% and -46.1% respectively) and“ transport materials ”(-10.9% and -26.4% in same order) influenced) ”, Says the statistical institute. Excluding “Fuels and Lubricants”, exports fell by 7.3% and imports by 12.6% (-3.4% and -2.6% respectively in December 2020).

The deficit in the trade balance decreased by 630 million euros compared to the same month last year and reached 834 million euros in January 2021. Without “Fuels and Lubricants” the deficit decreased by 377 million euros to 600 million euros.

Selected cars and planes

INE’s analysis includes a reference to the accounts for 2020, a period when transportation material was “the economic category with the greatest absolute declines” in exports and imports. In the first case, the decrease was 2.1 billion euros (-17.2%), with the focus on “passenger cars” (only for Germany it was 489 million euros less, most likely due to the Volkswagen Autoeuropa plant in Palmela).

In the second case, the decrease was five billion euros (-33.6%), mainly in the sub-category “other transportation material”, which also includes aircraft.

According to INE, the purchases are from France, where Airbus, an aircraft supplier to TAP, has shrunk by 1767 million euros. Also noteworthy is the decline in car imports (-1458 million euros), “mainly from France and Germany (-554 million euros and -487 million euros)”.

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