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The National Statistics Institute (INE) said the trade deficit, which is for goods only, rose to 3.748 billion euros in the period, up from 3.206 billion euros a year earlier.
In October-December exports to European Union countries, Portugal's main market, rose by 11 percent while imports from those countries increased by 9.1 percent. Exports outside of the European Union rose by just 1.5 percent, while imports from non-EU countries soared by 13.3 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.