Year-on-year growth in exports and imports of goods slowed again, to 18.9% and 16.2%, in November 2022, “due to a slowdown in prices,” the National Institute of Statistics announced ( INE) this Monday.
According to INE’s ‘International Trade’ statistics, in November last year “Unit value indices (prices) registered year-on-year changes of +13.0% in exports and +14.1% in imports (+14.5% and +14.2%, respectively, in October 2022) “.
As a result, nominal year-on-year changes in exports and imports slowed to +18.9% and +16.2%, respectively, from +21.1% and +26.0%, in the same order, in October .
In November, INE highlights increases in exports and imports of ‘transport equipment’ (+22.2% and +35.6% respectively) and ‘fuels and lubricants’ (+100.4% and +36.0%, in the same order ) and in the export of ‘machinery and other capital goods’ (+30.9%).
Excluding fuels and lubricants, there were increases of 15.5% in exports and 13.5% in imports (+19.4% and +25.2% respectively in October 2022). Unit value indices (prices) excluding oil products recorded changes of +11.8% in exports and +9.8% in imports.
Compared to the previous month, exports and imports increased by 6.9% and 0.8% respectively in November 2022 (-1.6% and -0.2% in October 2022, in the same order).
Taking into account the quarter ended in November, exports increased by 21.5% and imports by 23.8% compared to the same period in 2021, against increases of 25.4% and 34.4%, in the same order , in the quarter ending October 2022.
In November last year compared to the same month of 2021, exports increased in all categories, with an emphasis on ‘transport equipment’ (+22.2%, mainly to the United Kingdom and Italy), ‘machinery and other capital goods’ (+ 30.9%, mainly to Spain) and ‘fuels and lubricants’ (+100.4%), mainly destined for markets outside the EU (European Union).
In terms of imports, emphasis should be placed on increases in ‘transport equipment’ (+35.6%), mainly from Canada and Spain, and ‘fuels and lubricants’ (+36.0%), mainly from outside suppliers the EU.
INE also notes the decrease in imports of ‘industrial supplies’ (-1.5%), mainly ‘chemical’ products from Ireland.
In November 2022, taking into account the main partner countries in 2021, INE points to an increase in transactions with Spain: +12.3% in exports, mainly from ‘machinery and other capital goods’ and +14.0% in imports, mainly from ‘food products and beverages’ and ‘transport equipment’.
It also points to the increase in exports to France (+17.3%), mainly due to ‘industrial supplies’, and in imports from Germany (+21.8%), mainly ‘transport equipment’.
Source: DN
