FX.co ★ Portugal Trade Deficit Widens In February

Portugal's foreign trade deficit widened in February from a year ago, figures from Statistics Portugal showed on Monday.

The trade deficit rose to EUR 2.37 billion in February from EUR 2.24 billion in the corresponding month last year. In January, the shortfall was EUR 2.03 billion.

Exports were 7.0 percent higher in February compared to last year, much slower than the 13.8 percent gain a month ago.

The annual growth in imports was almost in line with exports. Incoming flows rose 6.7 percent in February, after a 10.8 percent growth seen in January.

Excluding fuels and lubricants, there were annual increases of 10.0 percent in exports and 14.3 percent in imports.