Export figures ‘fantastic’

By TPN/Lusa, in News · 12-11-2013 12:48:00 · 0 Comments
Export figures ‘fantastic’

The 5.8% third quarter rise in Portuguese exports represents a ‘fantastic’ result according to Deputy Prime Minister Paulo Portas speaking to journalists following a Portugal and Colombia trade meeting he chaired with Colombia’s Foreign Minister Maria Ángela Holguin in Lisbon.

Portas described the figures as fantastic before pointing out that 2012 had been Portugal’s best year ever for exports and that “2013 is clearly going to be better even than the best year ever.”

The Portuguese economic performance “has perhaps its most surprising point, and even for some international institutions, in the export sector” said the junior coalition party leader.

While the export figures were positive signs for the economy Portas said “we are still a few days away from learning whether we have come out of 1,000 harsh days of recession” in reference to forthcoming GDP figures.

"The indicators on unemployment mean that the Portuguese economy is now slowly creating positions of employment which contributes extraordinarily to reducing the social fractures caused by unemployment," said Portas before praising the 7.2% rise in tourism, accepting that the rise in industrial output “lacked in full consistency” and that the performance of the agricultural sector “proved to the contrary the idiotic thesis, if you’ll excuse my term, that agriculture was a thing of the past and that you could not generate wealth and entrepreneurship in rural environments.”

According to Monday’s statistics from the National Institute of Statistics Portuguese exports in the third quarter rose by 5.8% year-on-year with imports up 3.6% and the trade gap down to €137.3 million.

The accumulated statistics for the first three quarters show a 4% rise in exports, no change in imports and an overall trade coverage rate of 84.1% with the Institute stating the better performance was due to both EU and global trade and represented a better performance across all sectors with fuel exports particularly noteworthy.

In the year-on-year figure for September alone, exports put on a 9.8% surge with imports up 3.7% and against annualised figures of -0.5% and -3.8% in August.

Portas also announced that Portugal would be using its just accepted observer status at the Latin American trade bloc, the Pacific Alliance, to foster opportunities for small and medium sized companies.


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