In November 2019, exports and imports of goods recorded nominal year-on-year growth rates of +8.6% and +1.3%, respectively (+8.4% and +6.9% in October 2019, in the same order). The increases in exports and imports of Transport equipment (+38.6% and +28.4%, respectively) stood out, mostly in exports of Passenger motor cars and imports of Other transport equipment (mostly airplanes). The decreases in exports and imports of Industrial supplies were also noteworthy (-7.4% and -7.8%, respectively), mainly in Processed goods.
Excluding Fuels and lubricants, exports grew by 6.1% and imports increased by 2.4% (+7.4% and +6.4%, respectively, in October 2019).
The trade balance deficit in goods decreased by EUR 329 million when compared to the same month of 2018, reaching EUR 1,735 million in November 2019. Excluding Fuels and lubricants, the trade balance stood at EUR -1,374 million, corresponding to a decrease of EUR 137 million in the trade deficit vis-à-vis November 2018.
In the quarter ended in November 2019, exports and imports of goods increased by 7.4% and by 6.6%, respectively, compared to the quarter ended in November 2018 (+3.4% and +5.0% in the same order, in the quarter ended in October 2019).