In February 2020, exports and imports of goods recorded nominal year-on-year growth rates of +0.9% and +3.4%, respectively (+4.0% and -2.4% in January 2020, in the same order). The increases in exports of Fuels and lubricants (+44.2%) and in imports of Transport equipment (+17.5%), mainly Other transport equipment (aircraft) stood out.
Excluding Fuels and lubricants, exports reduced by 1.1% and imports increased by 3.6% (+1.3% and -4.5% respectively, in January 2020).
The trade balance deficit in goods increased by EUR 170 million when compared to the same month of 2019, reaching EUR 1,547 million in February 2020. Excluding Fuels and lubricants, the trade balance stood at EUR -1,130 million, corresponding to an increase of EUR 251 million in the trade deficit vis-à-vis February 2019.
In the quarter ended in February 2020, exports and imports of goods increased by 3.4% and by 0.7% respectively, compared to the quarter ended in February 2019 (+5.9% and -0.2% in the same order, in the quarter ended in January 2020).
Although the information in this press release may already partially reflect the current situation determined by the Covid-19 pandemic, it is possible that the analysed trends may change substantially in the upcoming releases. Despite the circumstances, Statistics Portugal will try to maintain the statistical production and release calendar, although some adjustments might occur associated with the impact of the pandemic in obtaining primary information. For this reason, Statistics Portugal asks for the best collaboration by firms, households, and public entities in answering to Statistics Portugal‘s requests to obtain information, using Internet and telephone as alternative channels to face-to-face contacts. In fact, the quality of official statistics, particularly its ability to identify the impacts of the Covid-19 pandemic, depends crucially on this collaboration that Statistics Portugal is grateful for in advance.