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Exports and imports increased by 40.6% and 46.4% in nominal terms
International trade statistics
Exports and imports increased by 40.6% and 46.4% in nominal terms - May 2022
11 July 2022

Summary

In May 2022, exports and imports of goods recorded nominal year-on-year growth rates of +40.6% and +46.4%, respectively (+16.8% and +29.1%, in the same order, in April 2022). About half of these variations reflect increases in prices: the unit value indices (prices) recorded year-on-year variations of +17.2% in exports and +24.3% in imports.

Also in nominal terms, the emphasis was on the increases in exports and imports of Industrial supplies (+60.3% and +38.6%, respectively), generalized to several groups of products, but with special emphasis on exports of pharmaceutical products, and in imports of Fuels and lubricants (+147.8%), in the latter case explained in part by the transactions of natural gas.

Excluding Fuels and lubricants, exports and imports grew by 35.3% and 34.4%, respectively (+12.6% and +18.5%, in the same order, in April 2022). The unit value indices (prices) excluding petroleum products recorded year-on-year variations of +12.9% in exports and +15.2% in imports.

The deficit of trade balance in goods increased by EUR 976 million when compared with May 2021, amounting to EUR 2,421 million. Excluding Fuels and lubricants, the trade deficit totalled EUR 1,300 million, increasing by EUR 296 million when compared with May 2021. 

In the quarter ended in May of 2022, exports and imports increased by 23.3% and 35.3%, respectively, when compared with the same period of 2021 (+16.5% and +33.8%, in the same order, in the quarter ended in April 2022). 


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