Home Economy Portugal Trade Deficit Widens In October

Portugal Trade Deficit Widens In October

by RTTNews Staff Writer

Portugal’s foreign trade deficit widened in October, as imports grew faster than exports, figures from Statistics Portugal showed on Friday.

The trade deficit rose to EUR 2.83 billion in October from EUR 2.02 billion in the corresponding month last year. In October, the shortfall was EUR 2.74 billion.

Exports were 21.1 percent higher in October compared to last year, slower than the 25.0 percent gain in September.

The annual growth in imports was 26.2 percent in October, after a 30.4 percent rise a month ago.

The surge in imports was mainly due to more purchases of machinery and other capital goods, and industrial supplies.

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