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In 2014 Portugal more than doubled its positive trade balance with the Portuguese speaking countries

The trade balance of goods between Portugal and the Portuguese speaking countries (Angola, Brazil, Cape Verde, Guinea-Bissau, Guinea Equatorial, Mozambique, São Tomé and Príncipe e East Timor)I increased 113.4%, from 844.6 million euros in 2013 to 1,802 million euros in 2014. This increase comes mainly from the positive trade balance with Angola that tripled and reached 1,5 billion euros in 2014.

The trade imbalance between Angola and Portugal reflects the decrease of oil imports and the fallen prices since the summer.

Imports of Angolan products went down from 2,6 billion euros in 2013 to slightly over 1,6 billion euros in 2014.

The trade deficit with both Brazil and Guinea Equatorial deteriorated reaching 225 million and 156,8 million respectively.

Exports to Mozambique went down 2.5% reaching 318.5 million euros in 2014.

Overall, Portuguese exports increased 1.9% in 2014.

 

Source: LUSA

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