In January 2019, exports of goods recorded a year-on-year nominal growth rate of +4.1% which stood for a deceleration vis-à-vis the previous month (+7.3% in December 2018). Imports increased by 16.6% (+8.1% in December 2018), with the emphasis on the increase of 36.2% in Transport equipment (a +5.8 p.p. contribution to the year-on-year nominal growth rate) mainly as a result of the acquisition of Other transport equipment (mostly aircraft and parts thereof).
Excluding Fuels and lubricants, exports increased by 4.7% and imports grew by 19.0% (+9.1% and +9.5%, respectively, in December 2018). The deficit of trade balance amounted to EUR 1,996 million in January 2019, increasing by EUR 794 million when compared to the same month of 2018. Excluding Fuels and lubricants, the trade balance stood at EUR -1,471 million, corresponding to an increase of EUR 773 million in the trade deficit when compared to January 2018.
In the quarter ended in January 2019, exports and imports of goods grew by 0.9% and 12.5% respectively, vis-à-vis the quarter ended in January 2018 (+1.4% and +8.7%, in the same order, in the 4th quarter 2018).