In February 2023, exports and imports of goods recorded nominal year-on-year rates of change of +7.0% and +6.7%, respectively (+13.8% and +10.8%, in the same order, in January 2023). It should be noted that February 2023 had one less working day than the same month of 2022 and three less working days than the previous month, which may have influenced the variations in the current month.

Excluding Fuels and lubricants, there were increases of 10.0% in exports and 14.3% in imports (+13.7% and +11.4%, respectively, in January 2023). 

The unit value indices (prices) recorded rates of change of +7.1% in exports and +4.4% in imports (+8.1% and +7.0%, respectively, in January 2023). Excluding petroleum products, the rates of change were +7.4% in exports and +4.6% in imports (+8.1% and +5.9%, in the same order, in January 2023).

The deficit of the trade balance worsened by EUR 129 million when compared to February 2022, amounting to EUR 2,367 million. Excluding Fuels and lubricants, the deficit amounted to EUR 1,782 million, increasing by EUR 424 million when compared to February 2022.

In the quarter ended in February 2023, the growth of exports and imports slowed down again, with variations of +10.0% and +9.0%, respectively, when compared to the same period in 2022 (+13.9% and +12.7%, in the same order, in the quarter ended in January 2023).