Portugal’s exports down 17.1 pct in first half of 2020
The National Statistics Institute of Portugal (INE) said on Friday that the country’s exports fell 17.1 percent in the first half of 2020 from the same period last year.
Imports dropped by 19.7 percent in the first half of this year compared with the same period of 2019, said INE.
According to INE, the data obtained from Portuguese companies showed a reversal of the growth trend recorded in both flows compared with the second half of 2019.
Before the outbreak of COVID-19 pandemic, Portugal’s exports had increased by 4 percent, while imports rose 4.3 percent between July and December of last year.
A statement published on the website of INE said that the information “reflects the effects of the COVID-19 pandemic on the economic activity.”
Portugal issued a “state of emergency” on March 18, which had been renewed twice, restricting the operation of local industries until the end of social isolation measures on May 2, when the country advanced to “state of calamity,” allowing the resumption of economic activity.