Statistical Press Release – Balance of payments - April 2019
Up to April 2019 the combined current and capital account balance stood at -€1,179 million, compared to -€290 million in the same period in 2018 (Chart 1).
These developments were mainly due to the goods account (Chart 2).
The goods account deficit increased by €1,626 million and the services account surplus rose by €62 million, year-on-year (Chart 3).
In the first four months of the year, exports of goods and services grew by 4.6% (3.5% in goods and 7.2% in services) and imports rose by 10.2% (9.9% in goods and 11.4% in services).
The primary income account deficit decreased by €355 million compared to the same period one year earlier, to €644 million. This was due to an increase in income received from abroad and a decrease in interest paid to non-residents.
Up to April 2019 the financial account balance saw a €647 million reduction in net foreign assets in Portugal (Chart 4). The liabilities increased, on the back of investment of non-residents both in Portuguese government debt securities and resident non-financial corporations. This was partly offset by a rise in foreign financial assets, with the investment of resident banks in debt securities issued by non-residents, and the decrease in Banco de Portugal’s liabilities vis-à-vis the Eurosystem.
Next update: 17 Jul. 2019