In June 2019, exports and imports of goods recorded nominal year-on-year growth rates of -8.3% and -4.1%, respectively (+8.5% and +14.3% in the same order, in May 2019), which may possibly reflect the lower number of working days in the month under analysis. The emphasis was on the decrease in exports and imports of Fuel and lubricants (-34.3% and -24.8%, respectively) and on the 32.4% increase in imports of Transport equipment (mostly Airplanes).
Excluding Fuels and lubricants, exports declined by 6.2% and imports decreased by 0.2% (+9.8% and +11.4% respectively, in May 2019).
The trade balance deficit amounted to EUR 1,833 million in June 2019, increasing by EUR 150 million when compared to the same month of 2018. Excluding Fuels and lubricants, the trade balance stood at EUR -1,270 million, corresponding to an increase of EUR 288 million in the trade deficit vis-à-vis June 2018.
In the 2nd quarter 2019, exports and imports of goods grew by 1.0% and by 6.8% respectively, compared to the 2nd quarter 2018 (+5.5% and +12.0% in the same order, in the quarter ended in May 2019).
In the first half of 2019, there were increases of 2.9% in exports and 9.3% in imports, which stood for a deceleration in exports and an acceleration in imports vis-à-vis the variation recorded in the second half of 2018 (+3.7% and +7.5%, respectively). Excluding Fuels and lubricants, the increases were 4.5% and 9.9%, respectively (+4.3% and +7.4% in the 2nd half of 2018).