Portugal’s foreign trade deficit in the first quarter decreased from a year ago, as exports rose and imports fell, figures from Statistics Portugal showed Monday.
The trade deficit decreased to EUR 1.97 billion in the three months ended March from EUR 2.6 billion in the same period last year. Exports grew 4.0 percent, while imports dropped by 1.4 percent.
Shipments to EU countries advanced 5.2 percent and exports to the rest of the world also increased by 0.8 percent.
In March, exports surged 10.9 percent annually, following a 3.9 percent hike in February. It was the second consecutive monthly climb. Imports grew 10.1 percent in March, reversing a 4.1 percent fall in the preceding month.
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