Portuguese exports increased 15.4 percent and imports rose 22.4 percent in May, compared to the same period last year, which translated into a widening of the trade deficit to €1.438 billion.

According to information released on Monday by the National Statistical Institute (INE), in April exports had registered a year-on-year rise of 0.1 percent, and imports of 11.4 percent.

The balance of trade deficit stood at €1.438 billion in May 2017, which is an increase of €503 million compared to the same month of 2016.

Excluding fuels and lubricants, the trade balance reached a negative balance of €1.074 billion, corresponding to an increase of €344 million compared to the same month of 2016.

In the quarter ended in May 2017, exports and imports of goods increased, respectively, by 13.2 percent and 16.5 percent year-on-year, the INE added.

Article published by The Portugal News