Last year, national exports grew 10% compared to 2016, but imports went further, up 13.1%, according to data released today by INE.

 

Spain, France and Germany continued to be Portugal's main partners in foreign trade, added the National Statistics Institute.

 

"In 2017 exports of goods totaled 55.02 billion euros, corresponding to a nominal increase of 10.0% over the previous year (+ 0.8% in 2016). Imports increased by 13.1% (+ 1.8% in 2016) to 69 489 million euros, "the report by the statistics agency said. On the basis of these figures, the balance of trade in goods reached a negative balance of EUR 14 460 million, representing an increase of EUR 3 075 million in the deficit compared to the previous year.

 

"The main customers and external suppliers of goods to Portugal continued to be Spain, France and Germany. The largest trade deficit remained with Spain and the largest surplus came to the United States, while in the previous year it was with the United Kingdom that Portugal recorded the largest surplus in the trade balance, "says INE.

 

Source, Transportes & Negócios.