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Financial News: Portugal Trade Deficit Narrows In April

Portugal Trade Deficit Narrows In April

06/09/2020 - 07:51:00 (RTTNews)

(RTTNews) - Portugal's foreign trade narrowed in April, amid declines in both exports and imports, figures from Statistics Portugal showed on Tuesday.

The trade deficit fell to EUR 1.13 billion in April from EUR 1.8 billion in the same month last year. In March, the deficit was EUR 1.59 billion.

Exports fell 39.8 percent year-on-year in April, following a 12.7 percent decline in March.

Imports declined 39.1 percent annually in April, following an 11.6 percent fall in the previous month.

On a month-on-month basis, exports decreased 33.6 percent and imports fell 32.4 percent.

Reflecting the constraints on the economic activity determined by the measures to control the spread of the COVID-19 pandemic, almost all product categories showed significant decreases, with exports and imports of transport equipment declining the most, the agency said.

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