In November 2023, exports and imports of goods recorded nominal year-on-year rates of change of -1.5% and -7.6%, respectively (-3.3% and -1.8%, in the same order, in October 2023), with Industrial supplies and Fuels and lubricants standing out in both flows (-5.4% and -13.3% in exports and -12.2% and -36.8% in imports, respectively).

Excluding Fuels and lubricants, decreases of 0.6% in exports and 2.9% in imports were recorded (-2.0% and +1.4% respectively, in October 2023).

The unit value indices (prices) registered rates of change of -3.5% in exports and -6.6% in imports (-4.6% and -5.9%, respectively, in October 2023; in November 2022, the rates of change had been +13.5% and +13.7%). Excluding petroleum products, decreases of 2.4% in exports and 4.5% in imports were recorded (-2.9% and -4.7%, respectively, in October 2023; in November 2022, the rates of change had been +12.3% and +9.4%).

The trade balance deficit decreased by EUR 633 million when compared to November of the previous year, amounting to EUR 1,928 million. Excluding Fuels and lubricants, the deficit decreased by EUR 202 million, amounting to EUR 1,490 million.

In the quarter ended in November 2023, exports and imports decreased by 4.4% and 7.4%, respectively, when compared to the same period in 2022 (-6.5% and -10.0%, in the same order, in the quarter ended in October of this year).