Portugal's goods trade balance deficit reached 3,052 million euros in July, representing an improvement of 393 million euros compared to the same period last year. Exports increased 6.5% and imports rose 0.6% compared to the same period of the previous year. Excluding transactions without transfer of ownership, exports grew 7.0% and imports 5.5%.
Regarding fuels and lubricants, exports of this category surged 46.6% compared to the same period last year, mainly driven by a price increase of 41.3%. The unit value index of exports recorded a positive variation of 5.6%, maintaining the growth trajectory that began in March. Excluding fuels and lubricants, exports grew 4.2%.
As for the main partner countries, exports to Spain increased 11.0%, reflecting the evolution of fuels and industrial supplies. Conversely, exports to the United Kingdom fell 10.3% and to the Netherlands decreased 12.1%. In imports, the increases from France (+25.6%, mainly transport equipment), Nigeria (+584.8%, essentially fuels) and Spain (+4.3%, mainly fuels) stood out, while imports from Ireland decreased significantly (-81.2%), essentially due to chemical product transactions without transfer of ownership.
