LISBON: Portugal’s exports declined for a third straight month in May, but at a slower pace, figures from Statistics Portugal showed Monday. Exports dropped 0.7 percent year-on-year following 2.7 percent decline in April. In March, exports fell 3.6 percent. Imports declined 3.6 percent annually in May, falling for a third month in a row. In April, imports tumbled 7 percent.
The trade deficit narrowed to EUR 937 million from EUR 1.1 billion a year ago. In April, the deficit was EUR 731 million. In a special mention on the country’s trade with the U.K., the agency said that export to the latter had grown steadily since the 2009 global crisis. The U.K. was the fourth main destination for Portuguese exports in 2015, accounting for 6.7 percent of total exports, the agency said. Portugal’s goods trade with the U.K. showed a surplus of around EUR 1.5 million. In the June 23rd referendum, 52 percent Britons voted to leave the European Union in a surprise move.
