Services exports up 30.3% in the third quarter

By: MRT Desk

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Services exports up 30.3% in the third quarter

Exports of services increased by 30.3% during the third quarter compared to the same period of 2021 to 24,172 million euros, according to the Survey of International Trade in Services published by the National Institute of Statistics (INE).

Exports of services thus maintained the annual growth rate after 31.3% in the second quarter and 28.1% in the first.

Against this, imports of services rose by 16.7% in annual rate to 15,395 million.

The balance, or difference between exports and imports, stood at 8,777 million, with an annual variation of 63.7%.

By sectors, the largest contribution in exports of services was in transport, with 6,854 million and an annual increase of 47%.

Business services also grew strongly, with exports worth 7,626 million and an annual increase of 22.2%; and telecommunications, computing and information, with 3,961.7 million, an increase of 31.1%.

By destination, exports of services to Europe reached 15,045 million, while those destined for the European Union (EU-27) stood at 10,381 million.

In imports, it also pulled transport with 4,334 million, 25.7% more than the same quarter of 2021.

Imports of business services totaled 5,315 million, 14.3% more; and insurance and pensions reached 1,391.5 million with an annual increase of 20.9%.

As for the origin, imports in Europe reached 10,963 million.

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