In 2018, exports of goods increased by 5.1%, in nominal terms, vis-à-vis the previous year (+10.0% in 2017), accounting for EUR 55,807 million. Imports of goods increased by 8.1% (+13.5% in 2017), totalling EUR 75,364 million. Trade balance of goods reached a deficit of EUR 17,557 million, which stood for an increase of EUR 2,887 million in the trade deficit compared to the previous year. Excluding Fuels and lubricants, exports increased by 5.3% and imports grew by 7.8% (+9.0% and +11.6%, respectively, in 2017) while the deficit increased by EUR 2,095 million, corresponding to a total of EUR -12,448 million.
Portugal’s main destinations and external suppliers of goods continued to be Spain, France and Germany. The highest trade deficit was recorded with Spain and the largest surplus with the United Kingdom, while in the previous year the largest surplus was recorded with the United States.
Machinery and mechanical appliances remained as the main group of exported and imported goods in 2018.
In 2018, the coverage rate of energy products (oil products, gas, and coal) reached 44.4%, the result of EUR 4,289 million of exports and EUR 9,657 million of imports of these products, reflecting a high energy dependence on Portugal abroad.
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