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Exports and imports decrease 1.5% and 3.4% in May

Exports and imports of goods decreased by 1.5% and 3.4% in May, in nominal and year-on-year terms, with emphasis on the 10% drop in exports of transport material, according to data from the National Institute of Statistics, released this Wednesday.

According to international trade statistics, published by INE, in May, excluding fuels and lubricants, there were decreases of 2.4% in exports and 4.2% in imports (+ 12.2% and +12.4%, respectively, in April 2024).

In the month under analysis, prices remained unchanged in exports and fell 2% in imports (-1.8% and -3.8%, respectively, in April 2024; -2, 8% and -6.9% in May 2023).

Excluding petroleum products, there were drops 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 trade balance deficit reached 2,234 million euros, which represents a decrease of 216 million euros, year-on-year, but excluding fuels and lubricants, the deficit totaled 1,695 million euros, reflecting a decrease of 194 million euros.

In the quarter ending in May 2024, exports and imports decreased by 1.2% and 2.6%, respectively, year-on-year (0% and -0.8%, in the same order, in the quarter ending in April 2024).

Source

Francesco Giganti

Journalist, social media, blogger and pop culture obsessive in newshubpro

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