In July 2019, exports and imports of goods recorded nominal year-on-year growth rates of +1.3% and +7.9% respectively (-8.3% and -3.7% in the same order, in June 2019). The emphasis was on the increase of 27.9% in imports of Transport equipment, mainly Other transport equipment (mostly Airplanes), contributing by +4.2 p.p. to the total year-on-year rate of change.
Excluding Fuels and lubricants, exports grew by 3.0% and imports increased by 7.9% (-6.2% and +0.2% respectively, in June 2019).
The trade balance deficit amounted to EUR 1,751 million in July 2019, increasing by EUR 452 million when compared to the same month of 2018. Excluding Fuels and lubricants, the trade balance stood at EUR -1,202 million, corresponding to an increase of EUR 314 million in the trade deficit vis-à-vis July 2018.
In the quarter ended in July 2019, exports and imports of goods grew by 0.5% and by 5.9% respectively, compared to the quarter ended in July 2018 (+0.9% and +6.5% in the same order, in the 2nd quarter 2019).