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Statistical Press Release – Balance of payments - April 2019

Today, Banco de Portugal publishes statistics, in Tables A.16 and A.17 of the Statistical Bulletin and in BPstat, on balance of payments for 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