Portugal’s global trade deficit widened 26 percent in the third quarter from a year earlier as imports increased more than exports, the National Statistics Institute (INE) said on Thursday. The trade deficit, which is for goods only, rose to 3.54 billion euros ($4.11 billion) in the period. In September alone, the deficit increased 18 percent to 1.18 billion euros.
In the quarter, exports to European Union countries, Portugal’s main market, rose by 5 percent while imports from those countries increased by 9 percent. Exports outside of the European Union rose by over 14 percent, but the rise in imports from non-EU countries was still higher at 16 percent.
The country has been running a surplus in the combined trade of goods and services, which includes the booming tourism sector, helping the economic growth. Trade data, goods (in billions of euros): July-Sept July-Sept Pct change 2017 2016 Imports 16.798 15.142 11 Exports 13.255 12.319 8 Deficit 3.543 2.823 26
Source: Reuters (Reporting By Andrei Khalip)