Portugal Trade Deficit Widens In August

portugal-trade-deficit-widens-in-august

By RTTNews Staff Writer   ✉   | Published:

Portugal’s foreign trade deficit widened in August, as imports grew more rapidly than exports, figures from Statistics Portugal showed on Monday.

The trade deficit rose to EUR 3.50 billion in August from EUR 1.75 billion in the corresponding month last year. In June, the shortfall was EUR 2.10 billion.

Exports were 32.6 percent higher in August compared to last year, faster than the 28.1 percent gain in July.

The annual growth in imports also quickened to 51.9 percent in August to 29.7 percent in July.

The surge in imports was mainly due to a 169.0 percent jump in inflows of fuels and lubricants amid rising natural gas purchases.

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