The Portuguese economy posted an external surplus of 2.683 billion euros up to May, 5.6 times the surplus recorded in the same period last year, of 476 million euros, the BdP announced today.
Despite this year-on-year growth, the current and capital account balance fell by 587 million euros compared to April, according to data published today by the Bank of Portugal (BdP).
Last year, between April and May there was a gain of around nine million euros, which means that in year-on-year terms there was “a decrease of 596 million euros” in the monthly balance of current and capital accounts.
In the case of the balance of goods and services, the BdP points out that it reached a balance of 55 million euros, 410 million euros more year-on-year.
This change, according to the regulator, resulted from a reduction of 255 million euros in the goods balance deficit, to 2,018 million euros, as a result of a decrease in imports, of 314 million euros (-3.5%), which was greater than that of exports, of 59 million euros (-0.9%).
The services balance surplus rose by 155 million euros to 2,573 million euros, while the primary income balance showed a deficit of 1,930 million euros – down 1,054 million euros year-on-year.
The secondary income and capital balances showed surpluses of 528 million euros and 260 million euros respectively, “but no significant variations compared to the same month last year”, points out the BdP.
The financial balance stood at 63 million euros.
