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Exports and imports increased by 24.7% and 29.6% in nominal terms
International trade statistics
Exports and imports increased by 24.7% and 29.6% in nominal terms - September 2022
09 November 2022

Summary

In September 2022, exports and imports of goods recorded nominal year-on-year growth rates of +24.7% and +29.6%, respectively (+32.3% and +49.6%, in the same order, in August 2022), being worth highlighting the increase in imports of Fuel and lubricants (+51.0%), which was due to the increase in value (+39.1%) of Petroleum oils, crude imports, reflecting the price increase of this product in the international market (+62.5%), as there was a decrease in volume (-14.4%). 

Excluding Fuels and lubricants, exports and imports grew by 23.8% and 26.2%, respectively (+26.9% and +33.1%, in the same order, in August 2022). 

The unit value indices (prices) registered year-on-year growth rates of +16.2% in exports and +18.5% in imports.  The price index change was lower than the one of the previous month, especially in imports, due to a base effect, as at this time in 2021, an increase in the prices of petroleum products was already being noticed. Excluding petroleum products, the year-on-year growth rates were +13.7% and +12.2%, respectively, being quite similar to those from the previous month (+13.1% and +12.5%, in the same order).

The deficit of the trade balance worsened by EUR 820 million compared to September 2021, amounting to EUR 2,699 million. Excluding Fuels and lubricants, the deficit amounted to EUR 1,643 million, increasing by EUR 439 million compared to September 2021.

In the 3rd quarter of 2022, exports and imports increased by 28.0% and 36.1%, respectively, compared to the same period in 2021 (+32.3% and +40.8%, in the same order, in the quarter ended in August 2022). 


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