In February 2016, exports of goods increased by 0.8% and imports of goods grew by 5.3% vis-à-vis February 2015 (-2.4% and -1.4% respectively, in January 2016). Excluding Fuels and lubricants, exports increased by 2.9% and imports increased by 7.7% (-1.2% and +5.2% respectively, in January 2016).
Trade balance deficit recorded a year-on-year increase of EUR 206 million in February 2016, similar to the increase registered in trade balance deficit excluding Fuels and lubricants (EUR -204 million).
In the quarter ended in February 2016, exports of goods decreased by 1.2% and imports of goods increased by 1.4%, when compared with the quarter ended in February 2015.
In 2015, exports of goods increased by 3.7% and imports of goods grew by 2.1% when compared with the previous year. The increase in transactions with Spain corresponded to the largest contribution for the overall evolution in both exports and imports. On the contrary, the emphasis went to the steep reductions recorded in the trade of goods with Angola. Therefore, the United States became the main destination of national goods outside the EU. China stood as the main Extra-EU supplier of goods to Portugal.
The trade balance deficit decreased by EUR 540 million in 2015 compared to the previous year but, when excluding Fuels and lubricants increased by EUR 1 439 million.