In May 2020, exports and imports of goods recorded nominal year-on-year growth rates of -39.0% and -40.2%, respectively (-40.1% and -39.5% in April 2020, in the same order). All the product categories showed significant decreases, with exports and imports of Transport equipment standing out (-54.0% and -66.6%, respectively).
Excluding Fuels and lubricants, exports and imports decreased by 35.2% and by 35.1%, respectively (-39.2% and -38.3%, in the same order, in April 2020).
The deficit on the balance of trade in goods decreased by EUR 722 million when compared to the same month of 2019, reaching EUR 908 million in May 2020. Excluding Fuels and lubricants, the trade balance stood at EUR -778 million, corresponding to a decrease of EUR 420 million in the trade deficit vis-à-vis May 2019.
In the quarter ended in May 2020, exports and imports of goods decreased by 30.8% and by 30.6% respectively, compared to the quarter ended in May 2019 (-17.7% and -16.7% in the same order, in the quarter ended in April 2020).
The information in this press release, regarding May, reflects the effects of the COVID-19 pandemic in both the performance of the economic activity and the quantity of primary information available in the compilation of the results presented. Despite the difficulties, we call for the best collaboration by firms, households, and public entities in answering the requests of Statistics Portugal to obtain information. The quality of official statistics, especially its capacity to identify the impacts of the COVID-19 pandemic, depends crucially on this collaboration that Statistics Portugal is grateful for in advance.