Exports up 7.6% in November – Jornal de Negócios – Portugal

Exports of goods grew by 7.6% in November of last year compared to the same month of the previous year, show data published this Monday, the 9th of January, the National Statistics Institute (INE). This increase shows a recovery compared to the behavior of October. Imports also showed an increase, with purchases up by 8.4%.

“In November of 2016, in terms of the variations year-on-year monthly exports grew by 7.6% (down 3.5% in October 2016), mainly due to the increase of 16.6% registered in the Trade Extra-European Union (-2,5% in October 2016),” says the INE.

The sales out of the community space have increased to 16.6%, with Angola to play a relevant role for the behavior of the exports. The sales to this country increased by 16.8%.

it Also exports to Spain and Germany contributed to this growth, with growth rates of 8.7% and 5.6%, respectively.

THE INE said yet what were the exported products that have contributed the most to the evolution of sales abroad: “In November of 2016, in exports, all economic categories have increased compared to the same month of 2015, with a greater emphasis on food products and beverages (+14.4%) and in machinery and other capital goods (up 12.4%)”.

This evolution has allowed a recovery of exports relative to October, when sales abroad were down by 3.5% compared to the same month of the previous year.

imports also revealed a recovery, from a drop of 1.8% to a growth of 8.4%. This trend reversal happened as a result of imports, Intra-European Union grew by 11,7% (- 0.5% in October 2016), as imports Extra-EU recorded a decrease (-3,0%)”, justifies the institute of statistics.

“The largest increases compared to the same month of 2015 have been seen in transport equipment and accessories (+13,8%), consumer goods (+11.8 percent) and in machinery and other capital goods (+11,0%). The fuels and lubricants recorded a decrease (- 7,1%), due to the crude oils from oil”, explains the nei.

The institute of statistical advances still which countries have contributed most to the evolution of shopping abroad: “In imports, in the context of the major supplying countries in 2015, in November 2016 only three countries have recorded reductions compared to the same month in 2015: United States (10.4% Down), Uk (- 1,2%) and Angola (down 0.8%). The remaining countries recorded increases, with greater emphasis on the Intra-EU, mainly Spain and Germany”.

In relation to the previous month, both exports and imports showed increases of 6.8% and 4.3%, respectively.

“The deficit of the trade balance of goods amounted to 791 million euros in November 2016, representing an increase of 91 million euros compared to the same month in 2015. The deficit of the trade balance excluding fuels and lubricants stood at 546 million euros, more than 135 million euros in the same month of 2015.”

(News updated at 12:02 with more information)