International Trade Statistics

November 2012

09 January, 2013

International Trade - Exports and imports of goods down by 0.1% and 3.6%

Exports and imports of goods decreased by 0.1% and 3.6%, respectively, in the quarter ended in November 2012, when compared with the period September through November 2011, which led to a EUR 511.2 million decrease in the deficit of the trade balance.

International Trade
In the quarter ended in November 2012, exports and imports of goods decreased by 0.1% and 3.6%, respectively, vis-à-vis the period September through November 2011. This outcome led to a decrease of EUR 511.2 million in the deficit of the trade balance. The coverage rate stood at 80.5%, corresponding to an improvement of 2.8 p.p. when compared with the coverage rate of the period September to November 2011.
With regard to year-on-year growth rates, in November 2012 exports increased by 0.1%, due to the raise in Extra-EU trade (which occurred in almost all groups of goods, more so in Machineryandmechanicalappliancesand in Basemetals), since Intra-EU trade decreased. Imports decreased by 5.9% vis-à-vis the figures of October 2011, as a result of the declines in both Intra-EU and Extra-EU trade, with more impact in Intra-EU trade (namely in Vehiclesandothertransportequipmentand Machineryandmechanicalappliances).
In terms of month-to-month growth rates, in November 2012 exports decreased by 3.2% when compared with October 2012, mostly due to the decrease in Extra-EU trade (namely in Mineralfuelsand Mineralproducts). Imports accounted for a 10% decrease, mainly due to the fall in Intra-EU trade (as a result of the evolution in almost all groups of products, more so in Vehiclesandothertransportequipment, Agriculturalproductsand Machineryandmechanicalappliances).

International Trade Statistics - November 2012

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PRELIMINA RY GLOBA L DA TA

GLOBAL DATA

€ Million

GROWTH RATE

SEP 11 to NOV 11

SEP 12 to NOV 12

%

INTERNATIONAL

Exports (Fob)

11 540.8

11 524.1

-0.1


Imports (Cif) 14 847.5 14 319.6 -3.6

Trade Balance

-3 306.7

-2 795.5


Coverage rate (%) 77.7 80.5

INTRA-EU

Exports (Fob) 8 468.0 8 159.0 -3.6

Imports (Cif)

10 891.5

10 413.8

-4.4

Trade Balance -2 423.5 -2 254.8

Coverage rate (%)

77.7

78.3

EURO ZONE

Exports (Fob)

7 188.7

6 855.2

-4.6

Imports (Cif) 9 855.8 9 435.7 -4.3

Trade Balance

-2 667.1

-2 580.5

Coverage rate (%) 72.9 72.7

EXTRA-EU


Exports (Fob) 3 072.8 3 365.1 9.5

Imports (Cif)

3 956.0

3 905.8

-1.3

Trade Balance -883.2 -540.7

Coverage rate (%)

77.7

86.2

EXCLUDING FUELS AND LUBRICANTS

Exports (Fob)

2 593.8

2 944.2

13.5

Imports (Cif) 1 839.8 1 642.9 -10.7

Trade Balance

754.1

1 301.3

Coverage rate (%) 141.0 179.2

Intra-EU Trade
In the quarter ended in November 2012, there were decreases in exports and imports, 3.6% and 4.4%
respectively, vis-à-vis the period September through November 2011.
In November 2012 there was a 2.4% decrease in Intra-EU exports vis-à-vis November 2011, as a result of the decrease in Vehiclesandothertransportequipment(mostly in Partsandaccessoriesofmotorvehicles,Passengermotorcarsand Motorvehiclesforthetransportofgoods). On the other hand, Intra-EU imports decreased by 5.6%, mainly caused by the fall in imports of Vehiclesandothertransportequipment(mostly in Passengermotorcarsand Partsandaccessoriesofmotorvehicles) and Machineryandmechanicalappliances.
In November 2012, vis-à-vis October 2012, exports decreased by 1.3%, mostly due to the evolution of Plasticsandrubber(mainly Newpneumatictyres,ofrubberand Amino-resins,phenolicresinsandpolyurethanes,inprimaryforms) and Machineryandmechanicalappliances. Imports decreased by 9.8% as a result of the fall in almost all groups of products, but more so in Vehiclesandothertransportequipment(mainly Passengermotorcarsand Partsandaccessoriesofmotorvehicles), Agriculturalproducts(mostly in Sunflowerseeds,whetherornotbrokenand Wheatandmeslin) and Machineryandmechanicalappliances.

International Trade Statistics - November 2012 2/7



Extra-EU Trade
In the quarter ended in November 2012, vis-à-vis the same period of the previous year, exports increased by 9.5%
and imports decreased by 1.3%, corresponding to a deficit of EUR 540.7 million, with a correspondent coverage rate of
86.2%.
Excluding Fuelsandlubricants, Extra-EU exports increased by 13.5% and Extra-EU imports decreased by 10.7%, when compared with the period September through November 2011. Trade balance, excluding these types of products, reached a EUR 1 301.3 million surplus, corresponding to a 179.2% coverage rate.

InNovember2012,exportstoThirdCountriesrecordeda6.7%increasevis-à-visNovember2011,resultingfromtheincreasesrecordedinalmostallgroupsofproductsbutmoresoinMachines and appliances (namelyLiquid dielectric transformers, having a power handling capacity >10.000 kVA)andinBase Metals (namelyStructures and parts of structures,Bars and rods, hot-rolled, of the type used for concrete reinforcement, smooth, of iron or non-alloy steel andBars and rods, of iron or non-alloy steel, with indentations, ribs, groves or other deformations).Extra-EUimportsaccountedfora7%decrease,resultingfromdecreasesrecordedmostlyinMineral fuels (namelyPetroleum oils and oils obtained from bituminous minerals, crude).

In November 2012, vis-à-vis October 2012, Extra-EU exports fell by 7.4%, mainly due to the decreases registered in Mineralfuels(namely Petroleumoilsandoilsobtainedfrombituminousminerals(excl.crude)) and in Mineralproducts(namely Copperoresandconcentrates).Extra-EU imports accounted for a 10.6% decrease, essentially due to the fall recorded in Mineralfuels(namely Petroleumoilsandoilsobtainedfrombituminousminerals,crude).

International Trade Statistics - November 2012 3/7


PRELIMINA RY MONTHLY DA TA - EXPORTS

INTERNATIONAL

INTRA-EU

EXTRA-EU

EXPORTS

EXPORTS

EXPORTS

MONTH

GROWTH RATE

GROWTH RATE

GROWTH RATE

%

%

%

2011

2012

Year-on- year

Month-to- month

2011

2012

Year-on- year

Month-to- month

2011

2012

Year-on- year

Month-to- month

TOTA L 42 870 42 160 31 910 30 020 10 960 12 141

JANUARY

3 199

3 623

13.3

9.9

2 504

2 656

6.1

15.2

694

967

39.2

-2.4

FEBRUARY

3 368

3 797

12.7

4.8

2 588

2 746

6.1

3.4

780

1 051

34.8

8.8

MARCH

3 807

4 149

9.0

9.3

2 922

3 015

3.2

9.8

885

1 133

28.1

7.8

APRIL

3 472

3 558

2.5

-14.2

2 584

2 548

-1.4

-15.5

888

1 011

13.9

-10.8

MAY

3 767

4 043

7.3

13.6

2 856

2 860

0.1

12.3

910

1 182

29.9

17.0

JUNE

3 640

3 987

9.5

-1.4

2 725

2 934

7.7

2.6

914

1 053

15.1

-11.0

JULY

3 833

4 115

7.3

3.2

2 875

2 922

1.6

-0.4

958

1 193

24.5

13.3

AUGUST

2 949

3 365

14.1

-18.2

2 082

2 179

4.7

-25.4

867

1 186

36.8

-0.6

SEPTEMBER

3 815

3 577

-6.2

6.3

2 817

2 596

-7.9

19.1

998

982

-1.6

-17.2

OCTOBER

3 821

4 037

5.7

12.8

2 819

2 800

-0.7

7.9

1 001

1 238

23.6

26.0

NOVEMBER

3 905

3 910

0.1

-3.2

2 831

2 764

-2.4

-1.3

1 073

1 146

6.7

-7.4

DECEMBER

3 296

2 305

991

50%

PRELIMINARY MONTHLY DATA - EXPORTS YEAR-ON-YEAR GROWTH RATE

Intra-EU Extra-EU International

40%

30%

20%

10%

0%

-10%

-20%

International Trade Statistics - November 2012 4/7


PRELIMINA RY MONTHLY DA TA - IMPORTS

INTERNATIONAL

INTRA-EU

EXTRA-EU

IMPORTS

IMPORTS

IMPORTS

MONTH

GROWTH RATE

GROWTH RATE

GROWTH RATE

%

%

%

2011

2012

Year-on- year

Month-to- month

2011

2012

Year-on- year

Month-to- month

2011

2012

Year-on- year

Month-to- month

TOTA L 59 243 51 937 43 624 37 251 15 619 14 686

JANUARY

4 610

4 726

2.5

5.6

3 515

3 306

-5.9

-1.5

1 094

1 420

29.7

26.6

FEBRUARY

4 857

4 676

-3.7

-1.1

3 723

3 438

-7.7

4.0

1 134

1 238

9.2

-12.8

MARCH

5 628

5 106

-9.3

9.2

4 280

3 720

-13.1

8.2

1 347

1 386

2.9

12.0

APRIL

5 122

4 415

-13.8

-13.5

3 668

3 205

-12.6

-13.8

1 454

1 210

-16.8

-12.7

MAY

5 570

5 031

-9.7

13.9

3 910

3 527

-9.8

10.0

1 660

1 504

-9.3

24.3

JUNE

4 781

4 536

-5.1

-9.8

3 570

3 371

-5.6

-4.4

1 211

1 165

-3.7

-22.5

JULY

5 033

4 709

-6.4

3.8

3 614

3 374

-6.7

0.1

1 419

1 335

-5.9

14.6

AUGUST

4 318

4 418

2.3

-6.2

3 095

2 897

-6.4

-14.1

1 222

1 521

24.4

13.9

SEPTEMBER

5 186

4 695

-9.5

6.3

3 653

3 291

-9.9

13.6

1 533

1 404

-8.4

-7.7

OCTOBER

4 814

5 065

5.2

7.9

3 659

3 744

2.3

13.8

1 154

1 321

14.4

-5.9

NOVEMBER

4 848

4 560

-5.9

-10.0

3 579

3 379

-5.6

-9.8

1 269

1 181

-7.0

-10.6

DECEMBER

4 477

3 355

1 122

50%

PRELIMINARY MONTHLY DATA - IMPORTS YEAR-ON-YEAR GROWTH RATE

Intra-EU Extra-EU International

40%

30%

20%

10%

0%

-10%

-20%

International Trade Statistics - November 2012 5/7



Broad Economic Categories
In the quarter ended in November 2012, as far as exports are concerned, the major decreases were registered in Transportequipment,partsandaccessories(-14.3%) and Fuelsandlubricants(-10.4%), when compared with the period September through November 2011. On the other side, Capitalgoodsrecorded an increase of 14.9%.
For the same period, on the import side, the emphasis goes to the declines recorded in Transportequipment,partsandaccessories(-17.7%) and in Consumergoods(-8.5%) and to the increase in Fuelsandlubricants(+6.4%).

PRELIMINA RY GLOBA L DA TA

International Trade Statistics - November 2012 6/7


ABBREVIATIONS

EU - European Union

CN - Combined Nomenclature, 2011 and 2012 versions

BEC - Classification by Broad Economic Categories, third revision

EXPLANATORY NOTES

1. International Trade compiles the statistical information about the commercial trade of goods with the European Union and Third Countries. In terms of Intra-EU trade statistics it includes adjustments for non-responses as well as for enterprises with transactions below the defined exemption thresholds, which exempts from providing statistical data a significant number of enterprises.

2. Data from International Trade might be subject to corrections resulting from additional data available to Statistics Portugal, for both Intra-EU and Extra-EU Trade.

3. In this "Press Release" the following statistical data are used:

2011 - European Union - January to December provisional results;

- Third Countries - January to December provisional results.

2012 - European Union - January to November preliminary results;

- Third Countries - January to November preliminary results.

4. Due to rounding off numbers, totals might not correspond to the sum of the indicated parcels.

5. Month-to-month growth rate - it compares the level of each variable between two consecutive months. Although being an indicator that allows an up to date follow-up of the evolution of each variable, the value of this variation rate is particularly influenced by seasonal fluctuations effects and from other specific effects in one or both compared months.

6. Year-on-year growth rate - it compares the level of each variable between the current period and the same period of the previous year. The evolution of this rate is less biased from seasonal fluctuations. However, it might be influenced by these types of effects when referred to a specific period of time.

7. The revision policy applied to International Trade Statistics, which complies with the revision policy issued to Statistics

Portugal, is as follows:

In each month data is published with regard to month M (40 days) and the prior 3 months are revised.

The dissemination of preliminary results with regard to year N will take place in the month of May of year N+1, at the same time of the last revision (3rd) of the month of December of the year N. Therefore the month of December is reviewed as many times as the other months of the year.

The dissemination of provisional results with regard to year N will take place in October of year N+1. The dissemination of definitive results with regard to year N will take place in May of year N+2.

Extraordinary revisions: the result from unexpected facts exogenous to the data production process, or might derive from error corrections that were not possible to introduce during the regular revision process as defined earlier. It should be noted that if the total amount of the revision so justifies (case by case evaluation), it should be included and

disseminated in the results of the month following its detection.

International Trade Statistics - November 2012 7/7

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