Portugal’s trade deficit with China improves by 4.5 pct from Jan-April

10 July 2009

Lisbon, Portugal, 10 July – Portugal’s trade deficit with China improved by 4.5 percent from January to April, to 297.7 million euros, against the same period of last year, Portuguese news agency Lusa reported.

In the period, Portugal’s exports to the Chinese market rose 0.3 percent year on year to 53 million euros, whilst imports fell 3.8 percent to 350.7 million euros, against 2007.

A study from AICEP (Portuguese Agency for Investment and Foreign Trade) said that “the Chinese market has essentially proven to be a supplier market to Portugal, becoming the 10th biggest supplier in 2008, and accounting for a 2.2 percent share of Portuguese imports, or a total volume of purchases of 1.34 billion euros.”

In the 2004-2008 period Portugal’s imports from China saw an average annual growth rate of 30.9 percent.

In the opposite direction, exports to China were of a much lower value of, approximately, 183 million euros in 2008, accounting for approximately 0.5 percent of Portugal’s total exports.

The trade relationship between the two countries is one of the themes of the Portugal-China Forum for Economic and Trade Cooperation, held Saturday in Lisbon.

Around 200 Chinese businesspeople that were part of the delegation of China’s President, Hu Jintao on a two-day state visit that was due to have begun Friday, but which has been delayed due to ethnic clashes in the autonomous region of Xinjiang. (macauhub)