Lisbon, Oct. 10, 2024 (Lusa) - Portugal's exports fell by 1.3% and imports of goods rose by 1.6% in August, in terms of nominal year-on-year changes, the National Statistics Institute (INE) announced on Thursday.

In July, exports and imports had registered nominal year-on-year increases of +23.9% and +15.7% respectively.

INE says that in August, the most notable figures compared to the same period last year were the decrease in exports of transport equipment (-10.6%) and the increases in imports of industrial supplies (+4.2%) and consumer goods (+6.5%).

Excluding fuels and lubricants, in August 2024 there was a 1.0% decrease in exports and a 2.0% increase in imports (+21.9% and +12.8% respectively in July 2024).

In August 2024, the unit value index (prices) for exports once again recorded a positive change, +0.2%, while imports continued to record a negative change, -3.9%, compared to +0.5% and -2.1%, respectively, in July, and -6.5% and -14.1% in August 2023.

Excluding oil products, there was a positive change in exports, +0.3%, and a decrease of 3.1% in imports, compared to zero change in exports and -3.6% in imports in July 2024 and -1.3% and -4.3% in August 2023.

The trade deficit totalled €2.640 billion in August 2024, reflecting a year-on-year increase of €192 million.

Excluding fuels and lubricants, the deficit increased by €180 million to €1.956 billion.

INE also reports that in the quarter ending August 2024, exports and imports increased by 6.3% and 3.7% respectively, year-on-year, compared to +5.8% and +1.9%, in the same order, in the quarter ending July 2024.

MC/AYLS // AYLS

Lusa