In November 2021, exports and imports of goods recorded nominal year-on-year growth rates of +15.7% and +32.3%, respectively (+2.8% and +17.6%, in the same order, in October 2021). Compared to November 2019, the rates of change were +15.1% in exports and +17.0% in imports, with emphasis on the increases in exports and imports of Industrial supplies (+40.9% and +47.3%, respectively) and in imports of Fuels and lubricants (+44.9%).

Excluding Fuels and lubricants, exports and imports grew by 15.9% and 23.7%, respectively (+0.8% and +9.8%, in the same order, in October 2021). Vis-à-vis November 2019, exports increased by 18.9% and imports grew by 14.0%. 

The deficit of trade balance in goods increased by EUR 1,162 million when compared with the same month of 2020 (it increased by EUR 389 million when compared with November 2019), amounting to EUR 2,097 million in November 2021. Excluding Fuels and lubricants, the trade deficit amounted to EUR 1,344 million (i.e., increasing by EUR 574 million compared to 2020 and decreasing by EUR 43 million vis-à-vis 2019).

In the quarter ended in November 2021, exports of goods increased by 9.3% and imports grew by 22.5% when compared with the same period of 2020 (+8.8% and +18.8%, in the same order, in the quarter ended in October 2021). When compared with the quarter ended in November 2019, exports and imports increased by 8.4% and 9.8%, respectively.

In the cumulative period January to November 2021, compared to the same period in 2019, exports increased by 5.2% (+17.6% compared to the same period in 2020) and imports grew by 0.9% (+19.5% vis-à-vis 2020), standing out in both flows the increase in Industrial supplies (+12.2% and +19.9%, respectively) and the decrease in Transport equipment (-11.0% and -32.3%, in the same order).