SYNTHESIS INE@COVID-19, 14 July 2020

July . 14 . 2020 page 12/13 Communication Unit | tel: +351 21 842 61 00 | sci@ine.pt www.ine.pt SYNTH SIS IN @ COVID-19 In May, excluding Fuels and lubricants , exports decreased by 35.2% (-39.2% in April) and imports declined by 35.1% (-38.3%). As regards the rates of change compared to the previous month, in May: • Exports increased by 14.4% (-33.7% in April); • Imports increased by 5.2% (-33.7% in April). In May 2020, in year-on-year terms, exports decreased to all the ten main partner countries, from 52.4% (USA) to 29.7% (Poland). There were year- on-year declining rates of change above 40% from: • United Kingdom: -45.6%; • Spain: 41.2%; • Italy: -40.7%; • Angola: -40.6%. The €554 million decrease in exports to Spain, the main Portuguese partner, stood out, mainly concerning Industrial supplies, Consumer goods and Transport equipment . Imports - Total (year-on-year rate of change) -40.2% -45.0% -35.0% -25.0% -15.0% -5.0% 5.0% 15.0% 25.0% 35.0% 45.0% May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 In May 2020, imports decreased, in year-on-year terms, to nine of the top ten supplier countries. These declining year-on-year rates of change ranged from -78.7% (Russia) to -21.6% (the Netherlands), and stood also above 40% to: • USA: -68.3%; • France: -62.6%; • United Kingdom: -57.1%; • Germany: -42.4%. The only positive variation was recorded in imports from China (5.1%), due to Consumer Goods , mainly personal protective equipment (mostly masks).