In February 2024, exports and imports of goods recorded nominal year-on-year rates of change of +2.3% and +1.5%, respectively (+0.5% and -4.1%, in the same order, in January 2024).
According to INE, in February 2024, there were increases in exports of Food and beverages (+14.8%) and imports of Transport equipment (+5.0%), Consumer goods (+6.0%) and Capital goods and parts thereof (+4.5%).
The deficit of trade balance decreased by EUR 12 million in February 2024, year-on-year, amounting to EUR 2,356 million. Excluding Fuels and lubricants, the deficit amounted to EUR 1,868 million, reflecting an increase of EUR 113 million.
In February 2024, compared to the same month of the previous year, almost all broad economic categories recorded increases in exports, more so in Food and beverages (+14.8%), mostly to Spain; Fuels and lubricants (+15.2%), mostly to Finland, and Capital goods and parts thereof (+6.0%), mainly to Germany. Conversely, the decrease in exports of Industrial supplies (-4.8%) is noteworthy.
Compared to the previous month, exports and imports increased by 1.9% and 9.9%, respectively, in February 2024 (+10.2% and -1.1%, in the same order, in January 2024).
