In July 2020, exports and imports of goods recorded nominal year-on-year growth rates of -7.3% and -21.2%, respectively (-9.8% and -22.6% in June 2020, in the same order). Most product categories registered decreases, with the emphasis on the declines in exports of Fuels and lubricants (-59.5%) and Industrial supplies (-10.0%) and imports of Transport equipment and Fuels and lubricants (-37.5% and -53.0%, respectively).
Excluding Fuels and lubricants, exports and imports decreased by 4.1% and by 17.0%, respectively (-7.3% and -16.7%, in the same order, in June 2020).
The deficit on the balance of trade in goods decreased by EUR 1,147 million when compared to the same month of 2019, reaching EUR 716 million in July 2020. Excluding Fuels and lubricants, the trade balance stood at EUR -443 million, corresponding to a decrease of EUR 881 million in the trade deficit vis-à-vis July 2019.
In the quarter ended in July 2020, exports and imports of goods decreased by 19.2% and by 28.0% respectively, when compared to the quarter ended in July 2019 (-30.6% and -34.2% in the same order, in the 2nd quarter 2020).