In December 2023, exports and imports of goods recorded nominal year-on-year rates of change of +0.3% and -5.9%, respectively (-1.9% and -7.9%, in the same order, in November 2023).
In the last month of 2023, the increase in exports of Industrial Supplies (+5.2%), especially Medicaments, and the decreases in imports of Industrial Supplies (-12.8%) and Fuels and lubricants (-16.5%) are noteworthy, in the latter case due to decreases in volume (-21.9%) and value (-60.7%) in Natural gas, mainly reflecting the fall in the price of this product (-49.7%).
Excluding Fuels and lubricants, in December 2023, there was an increase of 0.8% in exports and a decrease of 4.4% in imports (-1.0% and -3.1% respectively, in November 2023).
In December 2023, the unit value indices (prices) registered rates of change of -3.0% in exports and -7.1% in imports (-3.5% and -6.6%, respectively, in November 2023; +9.7% and +12.2% in December 2022). Excluding petroleum products, there were decreases of 1.7% in exports and 4.5% in imports (-2.4% and -4.5%, respectively, in November 2023; +8.4% and +9.1% in December 2022).
The deficit of the trade balance decreased by EUR 533 million in December 2023, when compared to December of the previous year, amounting to EUR 2,325 million. Excluding Fuels and lubricants, the deficit decreased by EUR 375 million, amounting to EUR 1,852 million.
In the 4th quarter 2023, exports and imports decreased by 1.8% and 5.3%, respectively, when compared with the same period in 2022 (-4.7% and -7.4%, in the same order, in the quarter ended in November of 2023).
The early annual results for 2023 point to decreases of 1.0% and 4.1% in exports and imports, respectively (+23.2% and +31.7% in 2022, in the same order), with the trade balance deficit decreasing by EUR 3,727 million to EUR 27,356 million. Excluding Fuels and lubricants, exports and imports grew by 1.0% and 1.6%, respectively, in 2023 (+19.7% and +23.7% in 2022, in the same order). The trade balance deficit, excluding Fuels and lubricants, stood at EUR 20,300 million, increasing by EUR 800 million compared to 2022.
