In January 2020, exports of goods recorded a nominal year-on-year growth rate of +4.2% while imports recorded -1.9% (+5.5% and +1.7% in December 2019, in the same order). The increases in exports and imports of Fuels and lubricants (+50.3% and +14.3%, respectively) and the decrease in imports of Transport equipment (-17.1%), mainly Other transport equipment (aircraft), stood out.
Excluding Fuels and lubricants, exports grew by 1.5% and imports decreased by 4.0% (+2.9% and +1.5% respectively, in December 2019).
The trade balance deficit in goods decreased by EUR 339 million when compared to the same month of 2019, reaching EUR 1,539 million in January 2020. Excluding Fuels and lubricants, the trade balance stood at EUR -1,043 million, corresponding to a decrease of EUR 314 million in the trade deficit vis-à-vis January 2019.
In the quarter ended in January 2020, exports and imports of goods increased by 5.9% and by 0.2% respectively, compared to the quarter ended in January 2019 (+7.4% and +3.2% in the same order, in the 4th quarter 2019).