In 2019, exports of goods increased by 3.5%, in nominal terms, vis-à-vis the previous year (+5.1% in 2018), accounting for EUR 59,903 million. Imports of goods totalled EUR 79,977 million, increasing by 6.0% compared to the previous year (+8.3% in 2018). Trade balance of goods reached a deficit of EUR 20,074 million, EUR +2,485 million in the trade deficit compared to 2018. Excluding Fuels and lubricants, exports increased by 4.4% and imports grew by 6.8% (+5.4% and +8.0%, respectively, in 2018) and the deficit increased by EUR 2,155 million, corresponding to a total of EUR 14,636 million.
Portugal’s three main destinations and external suppliers of goods continued to be Spain, France and Germany. The highest trade deficit was recorded with Spain and the largest surplus with the United States, while in the previous year the largest surplus was recorded with the United Kingdom.
Machinery and mechanical appliances remained as the main group of imported goods in 2019 and were replaced as the main group of exported goods by Vehicles and other transport equipment. Transport equipment stood out for significant increases in exports (+14.2%; +17.6% in 2018) and in imports (+21.8%; +10.5% in 2018) - see box in this press release.
In 2019, imports of goods through distance sales reached EUR 348 million, registering an increase of 23.5% vis-à-vis the previous year (EUR +66 million).
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