Portugal Trade Gap Widens On Weaker Exports

(RTTNews) - Portugal's foreign trade deficit increased in July from a year ago as exports plunged amid an increase in imports, figures from Statistics Portugal showed on Tuesday.

The trade deficit rose to EUR 3.3 billion in July from EUR 2.2 billion in the same month last year.

In nominal terms, exports declined 11.3 percent year-on-year in July, reversing a 0.2 percent increase a month ago.

Excluding transactions without transfer of ownership, both exports and imports rose slightly by 0.3 percent and 0.2 percent, respectively, the agency said.

Imports grew 2.8 percent annually in July, slower than the 3.7 percent growth in the previous month.