Portugal's current account surplus narrowed to EUR 0.66 billion in August 2020 from EUR 1.58 billion in the same month last year as the services surplus declined to EUR 1.32 billion from EUR 2.82 billion, led by a sharp decline in tourism revenues (EUR 1.46 billion from EUR 3.02 billion). Meanwhile, the goods deficit shrank to EUR 0.91 billion from EUR 1.41 billion, while the primary income gap declined to EUR 0.12 billion from EUR 0.19 billion. The secondary income surplus rose slightly to EUR 0.37 billion from EUR 0.36 billion. source: Banco de Portugal

Current Account in Portugal averaged -692.23 EUR Million from 1996 until 2020, reaching an all time high of 1658.15 EUR Million in August of 2017 and a record low of -2674.13 EUR Million in June of 2010. This page provides the latest reported value for - Portugal Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Portugal Current Account - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

Current Account in Portugal is expected to be -350.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Portugal to stand at 250.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -220.00 EUR Million in 2021 and -100.00 EUR Million in 2022, according to our econometric models.

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Portugal Current Account

Actual Previous Highest Lowest Dates Unit Frequency
659.53 140.01 1658.15 -2674.13 1996 - 2020 EUR Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-20 10:30 AM May €-1806M €-460M €-720M
2020-08-19 10:30 AM Jun €313M €-1806M €-100M
2020-09-17 10:30 AM Jul €140M €313M €790M
2020-10-19 11:00 AM Aug €659.5M €140M €510M
2020-11-18 11:30 AM Sep €659.5M €190M
2020-12-22 11:30 AM Oct €250M


News Stream
Portugal Current Account Surplus Narrows Amid Falling Tourism Revenues
Portugal's current account surplus narrowed to EUR 0.66 billion in August 2020 from EUR 1.58 billion in the same month last year as the services surplus declined to EUR 1.32 billion from EUR 2.82 billion, led by a sharp decline in tourism revenues (EUR 1.46 billion from EUR 3.02 billion). Meanwhile, the goods deficit shrank to EUR 0.91 billion from EUR 1.41 billion, while the primary income gap declined to EUR 0.12 billion from EUR 0.19 billion. The secondary income surplus rose slightly to EUR 0.37 billion from EUR 0.36 billion.
2020-10-19
Portugal Current Account Swings to Surplus in June
Portugal posted a current account surplus of EUR 313 million in June 2020, compared to a EUR 68 million deficit in the same period last year, as the primary income account registered a EUR 192 million surplus compared to a EUR 432 million gap. At the same time, the goods deficit shrank to EUR 625 million from EUR 1,345 million last year, while the services surplus declined to EUR 460 million from EUR 1,370 million due to falling tourism revenues and the secondary income surplus dropped to EUR 285 million from EUR 338 million.
2020-08-19
Portugal Current Account Gap Widens in May
Portugal's current account deficit widened to EUR 1,806 million in May of 2020 from EUR 1,652 million in the corresponding month of the previous year, as the goods and services account posted a gap of EUR 564 million, swinging from a EUR 190 million surplus a year earlier. Also, the secondary income surplus narrowed to EUR 263 million from EUR 423 million while the primary income deficit fell to EUR 1,505 million from EUR 2,265 million.
2020-07-20
Portugal Current Account Balance Shifts to Deficit in April
Portugal posted a current account gap of EUR 459.3 million in April of 2020, swinging from a EUR 119.1 million in the corresponding month of the previous year. The goods and services deficit widened to EUR 772.1 million from EUR 240.5 million a year earlier and the secondary income surplus narrowed to EUR 275.7 million from EUR 347.4 million. On the other hand, the primary income surplus rose to EUR 37.1 million from EUR 12.2 million.
2020-06-22

Portugal Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).