In November 2018, exports of goods recorded a year-on-year nominal growth rate of -8.7% (+5.3% in October 2018), with the emphasis on the decrease in exports of Transport equipment, mainly of Passenger motor cars, of 29.4% (a -5.7 p.p. contribution to the year-on-year nominal growth rate of total exports). Imports grew by 11.5 % (+5.4% in October 2018), with imports of Transport equipment registering an increase of 21.3% (a +3.4 p.p. contribution to the year-on-year nominal growth rate of total imports), as a result, essentially, of the acquisition of Other transport equipment (Airplanes).
Excluding Fuels and lubricants, exports decreased by 8.2% and imports grew by 11.7% (+8.0% in both flows, in October 2018).
The deficit of trade balance amounted to EUR 2,066 million in November 2018, i.e. increasing by EUR 1,157 million when compared to the same month of 2017. Excluding Fuels and lubricants, the trade balance stood at EUR -1,521 million, corresponding to an increase of EUR 1,036 million in the trade deficit when compared to November 2017.
In the quarter ended in November 2018, exports of goods decreased by 1.0% and imports of goods grew by 5.8%, vis-à-vis the same period of the previous year.