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Global economic slowdown and inflationary phenomenon were again reflected in Portugal’s exports and imports, which fell by around 6.9% and 4.1% respectively in May compared with the same period last year.

Some of the main highlights (INE, 2023) are the decline in exports of pharmaceutical products and imports of fuels and lubricants (-41.3%). Exports of industrial supplies, particularly chemicals, to the United States also fell by 25.1%.

On the other hand, exports of transport equipment (+23.5%) and machinery and other capital goods (+16.9%) to France and Spain increased. Overall, price levels varied by -2.3% for exports and 6.5% for imports.

Despite the deceleration, exports and imports are expected to continue their positive contribution to the economy and to develop favourably.

Selling products across international borders can be risky and challenging, but it is also an excellent opportunity to improve the long-term sustainability and competitiveness of companies.

Start exporting with Olicargo and learn more about the different stages of the export process. Together, let’s boost international trade!


ECO. (2023). Comércio internacional acentua queda. Exportações recuam 6,9% em maio. Consultado a 03 de agosto de 2023, em:

Jornal Económico. (2023). Comércio internacional volta a recuar em maio pelo segundo mês seguido. Consultado a 03 de agosto de 2023, em: