Trade between Portugal and China increases in 2005

25 November 2005

Lisbon, Portugal, 25 Nov – Trade between Portugal and China increased between Portugal and China between January and August of this year, with the growth in value of Chinese imports greater than that of Portuguese exports, according to recent figures from the Portuguese statistics institute (INE).

Up to August this year Portugal imported 363.8 million euros of Chinese products, 24.2% more than in the same period of 2004.

The percentage increase of Portuguese exports to china was greater, 29.4%, but lower in value terms, totaling 95.9 million euros in the period.

Thus the balance of trade between the countries was negative by 267.9 million euros for Portugal, an increase of around 25% on 2004.

Imports from Portuguese-speaking African countries doubled from 2004 to almost 49 million euros, while exports to them totaled 633.6 million euros, a 12.2% increase year-on-year.

Significant increases in imports were made from countries within the Organization of the Petroleum Exporting Countries (OPEC), of 71.5% and South Korea, 27.2% mores.

In export terms, OPEC recorded the largest increase, 46.5%, followed by China, Singapore and Turkey.

The main export goods were machines and apparatus (1.14 billion euros, an increase of 15%), fuel and textiles. The largest increases were of chemicals, and plastics and rubber, both categories having increased around 20%.

Imported goods that increased most this year include mineral fuels (40.3%), and plastics and rubber (more than 26%).

In total Portuguese exports increased 2.3% in the period to 3.85 billion euros, while imports increased 16.1% to 7.56 billion euros, boosting the trade deficit by 35.1%. (macauhub)