In August 2019, exports and imports of goods recorded nominal year-on-year growth rates of -3.8% and -4.0% respectively (+1.3% and +9.5% in the same order, in July 2019). The emphasis was on the decreases in exports and imports of Fuels and lubricants (-44.1% and -43.7%, respectively), namely in exports of Processed products and imports of Primary products.
Excluding Fuels and lubricants, exports grew by 0.6% and imports increased by 4.4% (+3.0% and +9.7% respectively, in July 2019).
The trade balance deficit in goods decreased by EUR 78 million when compared to the same month of 2018, reaching EUR 1,638 million in August 2019. Excluding Fuels and lubricants, the trade balance stood at EUR -1,288 million, corresponding to an increase of EUR 190 million in the trade deficit vis-à-vis August 2018.
In the quarter ended in August 2019, exports of goods declined by 3.6% and imports grew by 0.6% compared to the quarter ended in August 2018 (+0.4% and +6.3% in the same order, in the quarter ended in July 2019).