Exports and imports drop 6.9% and 4.1% in May

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Exports and imports decreased 6.9% and 4.1%, respectively, in May compared to the same month in 2022, highlighting the falls in exports of industrial supplies and fuel imports, announced the INE today.

“In May 2023, exports and imports of goods recorded nominal year-on-year changes of -6.9% and -4.1%, respectively (-3.3% and -6.0%, in the same order, in April 2023),” says the National Statistics Institute (INE) in the “International Trade Statistics”.

This is the second consecutive month of decline in Portugal’s transactions of goods with foreign markets, which had not fallen since the first months of 2021.

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