Exports grew by 3% and imports 17.5% in October, compared to the same month last year, according to international trade statistics released today by Statistics Portugal (INE).
Compared to October 2019, before the Covid-19 pandemic, exports increased by 0.7% and imports by 4.4%.
When excluding fuels and lubricants, exports and imports increased by 1% and 9.6%, respectively (+7.4% and +10.5%, in September 2021).
However, compared to October 2019, exports (excluding fuels and lubricants) decreased by 0.4%, and imports grew by 0.4%.
The trade balance deficit of goods in October increased by €971 million compared to the same month of 2020 (increased by €286 million compared to October 2019), to €1.98 billion.
Excluding fuels and lubricants, the INE pointed out that the trade balance deficit was €124 billion (an increase of €525 million compared to 2020 and €45 million compared to 2019).
In an analysis of the three months ending in October, exports increased by 9%, and imports grew by 18.8%, compared to the same period in 2020 (+12.2% and +20.4%, in the same order, in the 3rd quarter of 2021).
However, compared with the quarter ending October 2019, exports and imports increased by 7.6% and 7.9%, respectively.
From the beginning of the year to October, exports increased by 4.3% compared to the same period in 2019 and 17.9% compared to the same period last year.
Meanwhile, between January and October, Imports decreased by 0.8% compared to the same period of 2019 and increased by 18.1% compared to 2020.
INE also highlighted the year-on-year growth in the third quarter of this year of the unit value indices of exports and imports by 10.8% and 12.5%, respectively (+5.9% and +7.1%, in the previous quarter).
Excluding oil products, the unit value indices of exports and imports increased by 8.4% and 8%, respectively (+4.1% and +3.3% in the second quarter).