Portuguese exports of metallurgy and metalworking products reached in March “the highest record in history”, totalling €1.983 billion and surpassing the record of March 2020 by 5%, the sector’s association announced on Wednesday.
In accumulated terms, until March there was a year-on-year growth of 6.5% in exports compared to the same period of the previous year, for a total of €5.434 billion.
“Exports from companies in the metallurgical and metalworking sector continued to grow quite solidly in March 2022, continuing the excellent figures seen in the previous two months,” the association of metallurgical, metalworking and allied industries of Portugal (AIMMAP) said in a statement.
According to the statement, “in the first quarter this growth was more evident in exports to European Union countries, which grew 10.9% year-on-year, with special emphasis on Spain (7.3%), France (15.4%) and Germany (18.1%)”.
“Exports outside the European Union showed a more negative variation, with a drop of 6.9% compared to the same period the previous year,” it adds.
Considering the first quarter of the year, export growth “was more significant, both in percentage terms and in absolute value, in the USA”.
In this market, exports increased from around €103.8 million in the first quarter of 2021, to more than €207.6 million, showing “an extraordinary year-on-year growth of slightly more than 100%”.
According to AIMMAP, “this rise in exports to the US has been accelerating, as the year-on-year growth went from 70% in February (accumulated two months) to 100% now in March (accumulated three months).”
Quoted in the statement, the association’s vice president noted that “the current economic cycle that companies are facing, strongly affected by the consequences of the pandemic and war in Ukraine, is very difficult,” so “the excellent figures that the companies in Portugal’s metal sector present are remarkable, illustrating their positive performance and the assertive way” they work.
“Despite the fact that the last few years have brought many challenges, the growth of our companies is significant”, emphasises Rafael Campos Pereira.