Portugal Trade Gap Widens In December

(RTTNews) - Portugal's trade gap increased in December from a year ago as exports fell amid an increase in imports, figures from Statistics Portugal showed on Monday.

The trade deficit rose to EUR 2.91 billion in December from EUR 2.43 billion in the same month last year. In November, the shortfall was EUR 2.51 million.

Exports fell 2.5 percent year-on-year in December, following a 2.0 percent fall in November.

Imports climbed 4.0 percent annually in December, slower than the 4.6 percent rise in the previous month.

Data showed that there was a decrease in exports of industrial supplies and an increase in imports of fuels and lubricants compared to December 2023, the agency said.

During the fourth quarter, both exports and imports climbed by 4.0 percent and 5.4 percent, respectively.

In the whole year 2024, the trade deficit of the country rose somewhat to EUR 27.89 billion from EUR 27.81 billion in 2023. Exports were 2.5 percent higher, and imports rose by 1.9 percent.