In November 2020, exports and imports of goods recorded nominal year-on-year growth rates of -0.4% and -12.1%, respectively (-2.3% and -11.4% in October 2020, in the same order). The emphasis was on the declines in exports and imports of Fuels and lubricants (-42.9% and -47.5% respectively) and in imports of Transport equipment (-35.3%) mostly Other transport equipment (mainly aircraft).
Excluding Fuels and lubricants, exports increased by 2.7% and imports decreased by 8.3% (-1.4% and -8.4%, in the same order, in October 2020).
The deficit on the balance of trade in goods decreased by EUR 820 million when compared to the same month of 2019, amounting to EUR 888 million in November 2020. Excluding Fuels and lubricants, the trade balance stood at EUR -735 million, corresponding to a decrease of EUR 651 million in the trade deficit vis-à-vis November 2019.
In the quarter ended in November 2020, exports and imports of goods decreased by 0.9% and 10.8% respectively, when compared to the quarter ended in November 2019 (-1.4% and -9.9% in the same order, in the quarter ended in October 2020).
Despite the circumstances caused by the COVID-19 pandemic, Statistics Portugal calls for the fullest possible cooperation 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.