Exports increased by 0.4% and imports fell by 4.5% in January compared to the same month in 2023, with the trade deficit falling by €399 million to €1.66 billion, INE (statistics Portugal) announced today. In the first month of 2024, INE highlighted the increase in transport equipment (+13.9%) in exports and the decrease in fuels and lubricants (-29.8%) in imports, with decreases in volume (-19.0%) and price (-13.4%) in the latter case. Excluding fuels and lubricants, in January exports rose by 1.0% and imports fell by 0.6% (+0.4% and -4.0% respectively in December 2023).
Better news on trade as imports fall while exports rise
