In June 2020, exports and imports of goods recorded nominal year-on-year growth rates of -10.1% and -23.1%, respectively (-38.7% and -39.8% in May 2020, in the same order). Most product categories decreased, with the emphasis on the declines in exports of Industrial supplies (-13.0%) and imports of Transport equipment and Fuels and lubricants (-49.4% and -65.5%, respectively).
Excluding Fuels and lubricants, exports and imports decreased by 7.6% and by 17.2%, respectively (-34.8% and -34.7%, in the same order, in May 2020).
The deficit on the balance of trade in goods decreased by EUR 1,049 million when compared to the same month of 2019, reaching EUR 828 million in June 2020. Excluding Fuels and lubricants, the trade balance stood at EUR -665 million, corresponding to a decrease of EUR 664 million in the trade deficit vis-à-vis June 2019.
In the 2nd quarter of 2020, exports and imports of goods decreased by 30.6% and by 34.4% respectively, when compared to the 2nd quarter of 2019 (-31.0% and -30.7% in the same order, in the quarter ended in May 2020).
In the 1st half of 2020, there were decreases of 17.1% in exports and 19.7% in imports, which stands for a reversal of the growth trend registered in both flows in the 2nd half of 2019 (+4.0% and +4.3%, in the same order). Excluding Fuels and lubricants, the decreases were 16.5% and 18.2%, respectively (+4.2 and +5.3%, in the 2nd half of 2019).
The information in this press release, regarding June, reflects the effects of the COVID-19 pandemic in both the performance of the economic activity and the quantity of primary information available in the compilation of the results presented. Despite the difficulties, we call for the best collaboration by enterprises, households, and public entities in answering the requests of Statistics Portugal to obtain information. The quality of official statistics, especially its capacity to identify the impacts of the COVID-19 pandemic, depends crucially on this collaboration for which Statistics Portugal is grateful for in advance.