LISBON: Portugal's global trade deficit widened almost 8 percent in the three months between last November and January 2018 from a year earlier as both exports and imports rose over 7 percent.
The National Statistics Institute (INE) said on Monday that the trade deficit, which is for goods only, rose to 3.54 billion euros ($4.36 billion) in the period.
In January alone imports rose 12.4 percent outpacing export growth of 9.6 percent, respectively.
In November-January, exports to European Union countries, Portugal's main market, rose by almost 10 percent while imports from those countries increased by 8.3 percent. Exports outside of the European Union remained practically flat, while imports from non-EU countries rose by over 4 percent.
The country has been running a surplus in the combined trade of goods and services, which includes the booming tourism sector, helping the economic growth.
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