The search for alternatives to Russian energy and grain from Ukraine brings new suppliers such as Congo and Trinidad and Tobago, for example, to the forefront, according to data from the INE.
The profile of Portugal’s foreign trade (goods) with the rest of the world has undergone remarkable changes since Russia’s war against Ukraine began.
The country is now even more dependent on the outside, the trade deficit reached the highest value of the official series in the first half of this year, and new trading partners have appeared out of nowhere in the race for substitute markets for Russian gas and oil.
Read also: Portugal breaks records in importation and exportation in 2019
According to calculations by Dinheiro Vivo (DV) from the database of the National Institute of Statistics (INE), updated yesterday (Tuesday), the Portuguese trade deficit (difference between exports of goods and imports) exceeded 14 billion euros in the first half of 2022 (the highest value in about three decades), driven by a very sharp growth in foreign purchases, which advanced almost 37% compared to the same period of 2021.
