In December 2018, exports of goods recorded a year-on-year nominal growth rate of +7.3% which stood for a significant acceleration compared to the previous month (-7.0% in November 2018), with the emphasis on the increase of 26.8% in Transport equipment (i.e. a +4.1 p.p. contribution to the year-on-year nominal growth rate of total exports), mainly Passenger motor cars. Imports grew by 7.5 % (+12.8% in November 2018), with Transport equipment increasing by 22.0% (i.e. a +3.4 p.p. contribution to the year-on-year nominal growth rate of total imports), mostly due to the purchase of Other transport equipment and Parts and accessories (mostly aircraft and parts thereof).
Excluding Fuels and lubricants, exports increased by 9.0% and imports grew by 9.1% (-6.6% and +13.1% respectively, in November 2018).
The deficit of trade balance amounted to EUR 1,615 million in December 2018, i.e. increasing by EUR 122 million when compared to the same month of 2017. Excluding Fuels and lubricants, the trade balance stood at EUR -1,300 million, corresponding to an increase of EUR 114 million in the trade deficit when compared to December 2017.
In the 4th quarter 2018, exports and imports of goods increased by 1.4% and 8.7%, vis-à-vis the same period of the previous year (+6.0% and +7.2% in the 3rd quarter 2018).
When considering the year 2018 as a whole, exports and imports of goods grew by 5.3% and 8.0% respectively (+10.0% and +13.1% in 2017) and the deficit of trade balance increased by EUR 2,670 million. Excluding Fuels and lubricants, exports and imports grew by 5.5% and 7.6% respectively in 2018 (+8.9% and +11.4% respectively in 2017).