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Portugal January Trade Deficit Widens

Portugal’s trade deficit in January widened from a year ago, as export growth eased and imports rose at a faster annual pace, figures from Statistics Portugal showed on Friday.

The trade deficit worsened EUR 1.939 billion from EUR 898 million in the same month last year. In December, the deficit was EUR 2.424 million.

Exports rose 22.2 percent year-on-year in January, after a 24.1 percent growth in December.

Imports grew 37.5 percent annually in January, following a 35.1 percent rise in the previous month.

Exports and imports of industrial supplies and imports of fuels and lubricants were significant in January, the statistical office said.

On a month-on-month basis, exports increased 6.6 percent, while imports declined 1.8 percent.

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