Portugal’s trade deficit increases in 2014

8 July 2015

Portugal’s trade deficit in 2014 totalled 10.676 billion euros, a real increase of 966 million against 2013 or 9.9 percent, the National Statistics Institute (INE) said Tuesday in Lisbon.

In the year under review, exports of goods increased by 1.8 percent year on year to 48.177 billion euros and imports increased 3.2 percent to 58.853 billion euros.

Spain remained Portugal’s biggest foreign trading partner (23.5 percent in exports and 32.5 percent in imports).

The largest deficits were recorded with Spain, Germany and Italy, while the largest surpluses were registered with Angola, France and the United States of America.

Due to the sharp decrease in fuel imports, the largest trade surplus was recorded in the trade of goods with Angola.

Machinery, vehicles and other transport equipment and mineral fuels remained the main groups of exported products and mineral fuels and machinery continued to be the main groups of imported products. (macauhub/PT)