Exports increased by 1.5% and imports 4.9% in the quarter ended in July over the same period, prompting an increase in the trade deficit to EUR 527 million, announced today the INE.
According to the National Statistics Institute (INE), this development led to a decrease in the coverage rate by 2.7 percentage points (pp) to 82.6%.
In the previous quarter, April to June, exports had retreated 0.5% and imports had grown 1.7%.
Considering only the month of July 2014, exports of goods increased by 1.3% and imports grew by 3.0% yoy (respectively +7.2% and +9.9% in June 2014).
According to the INE, the annual rise in exports in July was “almost entirely” due to developments in intra-EU trade (particularly in the vehicles and other transport equipment and footwear).
Imports increased 3.0% compared to June 2013, mainly reflecting the increase in intra-EU trade (particularly in the vehicles and other transport equipment).
Excluding fuels and lubricants, in July 2014 exports grew by 2.8% and imports by 5.7% yoy (respectively +5.4% and +7.9% in June 2014).
In terms of monthly variations in July 2014 exports increased 5.2% compared to June, “largely” due to the evolution of intra-EU (mainly due to footwear, vehicles and other transportation and clothing material).
Imports increased 6.4% from the previous month, mainly due to the increase in intra-EU (generalized to almost all product groups trade, but especially in chemicals, machinery and clothing).
With regard to intra-Community trade in the quarter ended July exports rose by 2.6% and imports by 5.0% yoy, which corresponds to a coverage rate of 81.7 % and a deficit of € 2.0326 billion.
Considering only July, intra-EU exports increased 1.7% from the same month of 2013, primarily reflecting the evolution of vehicles and other transport equipment and footwear, and imports increased 3.4 %, in particular due to vehicles and other transport equipment.
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