In October 2020, exports and imports of goods recorded nominal year-on-year growth rates of -2.2% and -11.8%, respectively (+0.2% and -8.8% in September 2020, in the same order). The emphasis was on the declines in exports of Industrial supplies (-5.9%) and in imports of Fuels and lubricants (-36.9%) and Transport equipment (-16.8%).
Excluding Fuels and lubricants, exports and imports decreased by 1.3% and by 8.9%, respectively (+0.8% and -4.6%, in the same order, in September 2020).
The deficit on the balance of trade in goods decreased by EUR 733 million when compared to the same month of 2019, reaching EUR 965 million in October 2020. Excluding Fuels and lubricants, the trade balance stood at EUR -687 million, corresponding to a decrease of EUR 511 million in the trade deficit vis-à-vis October 2019.
In the quarter ended in October 2020, exports and imports of goods decreased by 1.4% and by 10.2% respectively, when compared to the quarter ended in October 2019 (-3.2% and -13.4% in the same order, in the 3rd quarter 2020).
Despite the circumstances caused by the COVID-19 pandemic, Statistics Portugal calls for the fullest possible collaboration from companies, households, and public bodies in responding to Statistics Portugal data requests. The quality of official statistics, particularly their ability to help identify the impacts of the COVID-19 pandemic, crucially depends on this collaboration, for which Statistics Portugal thanks in advance.