In May 2024, exports and imports of goods recorded nominal year-on-year rates of change of, respectively, -1.5% and -3.4% (+15.2% and +13.3%, in the same order, in April 2024). 

In May 2024, year-on-year, exports of Transport equipment (-10.0%), mostly Passenger motor cars, and imports of Industrial supplies (-8.6%), mainly Base metals, stood out. 

Excluding Fuels and lubricants, there were decreases of 2.4% in exports and 4.2% in imports in May 2024 (+12.2% and +12.4% respectively in April 2024).

In May 2024, the unit value indices (prices) recorded a null variation in exports and -2.0% in imports (-1.8% and -3.8%, respectively, in April 2024; -2.8% and -6.9% in May 2023). Excluding petroleum products, there were decreases of 0.8% in exports and 3.2% in imports (-2.4% and -4.5%, respectively, in April 2024; +2.1% and -3.1% in May 2023).

The deficit of the trade balance amounted to EUR 2,234 million in May 2024, corresponding to a decrease of EUR 216 million vis-à-vis the same month in 2023. Excluding Fuels and lubricants, the deficit amounted to EUR 1,695 million, reflecting a decrease of EUR 194 million.

In the quarter that ended in May 2024, year-on-year, exports and imports decreased by, respectively, 1.2% and 2.6% (0.0% and -0.8%, in the same order, in the quarter that ended in April 2024).