According to the of INE’s International Trade Statistics of 2018, the balance of trade of goods had a deficit of €17.56 billion, €2.89 billion more than the previous year, mainly due to trade outside the European Union, which recorded a €2.18 billion increase in the deficit.

The INE, which issued the provisional results of the International Trade in Goods statistics for 2018, also indicated that, excluding fuels and lubricants, exports increased by 5.3 percent and imports by 7.8 percent and the deficit increased by €2.095 billion to €12.45 billion.

Portugal’s goods transactions with abroad continue to be mainly with countries that belong to the European Union (EU), with this dominance having increased to 76.1 percent in exports (two percentage points more than in 2017), which, according to INE, was related to the 3 percent decrease in exports to non-EU countries and to the decrease in imports to 75.8 percent (0.5 percentage points less than in 2017).

The main external customers and suppliers of goods to Portugal continued to be Spain, France and Germany, with the largest trade deficit continuing to be with Spain, with the balance of transactions worsening by €387 million, while the largest surplus was recorded in the relationship with the United Kingdom (the previous year had been with the United States).