At the same time our productive structure continued to progress in the value chain and by 2008, for instance, our exports of services to business already had a higher weight than the traditional exports of textiles and clothing.
Unfortunately, the improvement in our balance of goods and services was not sufficient, as our savings rate continued to be very low and our energy bill and the outflows of the income balance combined to keep a very high external deficit that has to be significantly reduced, namely through the mechanisms I have already described.