Portugal's trade deficit rose to EUR 1,504 million in February 2019 from EUR 999 million a year ago. Imports climbed 12.8% to EUR 6,325 million, boosted by transport equipment (19.3%), including other transport equipment (mainly airplanes and parts) (34.2%); industrial supplies (10.6%), namely processed goods such as base metals and chemical products (10.4%); and capital goods (15.5%). Among major trading partners, imports advanced from Spain (9.1%), Germany (17.1%), France (2.9%), the Netherlands (14.7%), Italy (2.2%), China (47.2%) and Belgium (17.7%). Exports rose 4.6% to EUR 4,821 million, driven by transport equipment (14.1%), essentially passenger vehicles (27.2%); industrial supplies (6%) and consumer goods (5.9%). However, shipments declined for fuels & lubricants (-32.6%), partly justified by the maintenance works in the national refineries. Among major trading partners, exports went up mostly to Italy (30%), Germany (4.9%), the UK (3.4%) and the US (6.6%). Balance of Trade in Portugal averaged -536.59 EUR Million from 1950 until 2019, reaching an all time high of 3.55 EUR Million in May of 1955 and a record low of -2524.87 EUR Million in June of 2010.

Balance of Trade in Portugal is expected to be -940.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Portugal to stand at -880.00 in 12 months time. In the long-term, the Portugal Balance of Trade is projected to trend around -1440.00 EUR Million in 2020, according to our econometric models.

Portugal Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-09 11:00 AM Balance of Trade €-2066M €-1624M €-1240M
2019-02-08 11:00 AM Balance of Trade €-1615M €-2058M € -1392M
2019-03-12 11:00 AM Balance of Trade €-1996M €-1643M €-1720M
2019-04-09 10:00 AM Balance of Trade €-1504M €-1973M €-1240M
2019-05-10 10:00 AM Balance of Trade €-1504M €-800M
2019-06-07 10:00 AM Balance of Trade €-1050M
2019-07-10 10:00 AM Balance of Trade €-1320M


Portugal Trade Last Previous Highest Lowest Unit
Balance of Trade -1504.00 -1973.00 3.55 -2524.87 EUR Million [+]
Current Account -740.83 -173.79 1105.17 -2590.60 EUR Million [+]
Current Account to GDP -0.60 0.50 3.10 -14.70 percent [+]
Imports 6325.00 6928.00 6928.00 0.00 EUR Million [+]
Exports 4821.00 4956.00 5319.44 1.69 EUR Million [+]
External Debt 412765.99 407313.05 421132.40 56392.07 EUR Million [+]
Capital Flows -348.35 382.33 1857.05 -2366.47 EUR Million [+]
Foreign Direct Investment 1044.16 328.80 6288.10 -3307.52 EUR Million [+]
Remittances 359.79 367.81 515.40 153.66 EUR Million [+]
Tourism Revenues 851.02 1064.85 2196.02 199.98 EUR Million [+]
Gold Reserves 382.50 382.50 606.76 382.48 Tonnes [+]
Terrorism Index 0.00 0.00 1.85 0.00 [+]
Tourist Arrivals 1779897.00 2326269.00 5241544.00 88000.00 [+]
Weapons Sales 56.00 172.00 172.00 0.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Portugal Balance of Trade

In 2017, the Portuguese trade deficit widened sharply by 23.4 percent from the previous year to EUR 13.8 billion, the largest trade gap since 2011. Imports rose by 12.5 percent, the most since 2010, while exports increased at a slower 10.1 percent, the biggest gain since 2011. The largest trade deficits were recorded with Spain, Germany, Italy, the Netherlands, Russia and China, while the biggest trade surpluses were recorded with the United States, the United Kingdom and France. This page provides - Portugal Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Balance of Trade - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1504.00 -1973.00 3.55 -2524.87 1950 - 2019 EUR Million Monthly




Country Last Previous
Argentina 460.00 Feb/19
Australia 4801.00 Feb/19
Brazil 4990.00 Mar/19
Canada -2894.80 Feb/19
China 326.47 Mar/19
Euro Area 17938.00 Feb/19
France -4002.00 Feb/19
Germany 17900.00 Feb/19
India -10890.00 Mar/19
Indonesia 540.20 Mar/19
Italy 3267.83 Feb/19
Japan 528.50 Mar/19
Mexico 1222.00 Feb/19
Netherlands 5130.00 Feb/19
Russia 15671.00 Feb/19
Saudi Arabia 180059.00 Dec/18
Singapore 3615.50 Mar/19
South Africa 3990.00 Feb/19
South Korea 5222.00 Mar/19
Spain -4483276.00 Jan/19
Switzerland 2494.00 Mar/19
Turkey -2134.33 Feb/19
United Kingdom -4860.00 Feb/19
United States -49382.00 Feb/19


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