Portugal's trade deficit narrowed slightly to EUR 1.96 billion in January 2023, up from EUR 1.99 billion in the same month last year. Exports rose 14.5 percent, mainly boosted by sales of machinery and other capital goods (27.6 percent), food and beverages (23.8 percent), consumer goods (13.8 percent), transport equipment and parts (12.3 percent), and industrial supplies (7.6 percent). Among major trade partners, exports were mostly up to Spain, France, Germany and the US. Meanwhile, imports increased at a slower 10.3 percent thanks to purchases of transport equipment and parts (40.5 percent), consumer goods (19.1 percent), and food and beverages (22.7 percent). By contrast, imports of industrial supplies were down 3.9 percent due to lower metal purchases. Imports rose from Spain, Germany and France, but were down from China. source: Statistics Portugal

Balance of Trade in Portugal averaged -603.84 EUR Million from 1950 until 2023, reaching an all time high of 3.55 EUR Million in May of 1955 and a record low of -3436.07 EUR Million in August of 2022. This page provides - Portugal Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

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Portugal Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2023-02-09 11:00 AM Dec €-2750M €-2445M € -1490M
2023-03-13 11:00 AM Jan €-1963M €-2758M €-2900.0M
2023-04-10 10:00 AM Feb €-1963M €-2210.0M


Related Last Previous Unit Reference
Balance of Trade -1963.22 -2758.43 EUR Million Jan 2023
Imports 8388.27 8578.17 EUR Million Jan 2023
Exports 6425.05 5819.74 EUR Million Jan 2023

Portugal Balance of Trade
Portugal runs regular trade deficits. Machinery and mechanical appliances are the main group of products exported and imported, and also the group with the largest trade deficit. On the other hand, the largest commercial surpluses are in the transactions of Mineral products, Cellulose pulp and paper, Clothing and Footwear. In terms of traded goods, Industrial supplies is the main traded category. Spain, France and Germany are the main external customers and suppliers of goods to Portugal, accounting for 50.9% of total exports and 52% of imports. Spain is Portugal's largest partner (weight of 26.7% in exports and 32.8% in imports). Transactions with Spain record the largest trade deficit, while the largest surplus is with France. Outside the EU, the United States is the main customer while China is the main Extra-EU supplier of goods.
Actual Previous Highest Lowest Dates Unit Frequency
-1963.22 -2758.43 3.55 -3436.07 1950 - 2023 EUR Million Monthly

News Stream
Portugal Trade Gap Narrows Slightly
Portugal's trade deficit narrowed slightly to EUR 1.96 billion in January 2023, up from EUR 1.99 billion in the same month last year. Exports rose 14.5 percent, mainly boosted by sales of machinery and other capital goods (27.6 percent), food and beverages (23.8 percent), consumer goods (13.8 percent), transport equipment and parts (12.3 percent), and industrial supplies (7.6 percent). Among major trade partners, exports were mostly up to Spain, France, Germany and the US. Meanwhile, imports increased at a slower 10.3 percent thanks to purchases of transport equipment and parts (40.5 percent), consumer goods (19.1 percent), and food and beverages (22.7 percent). By contrast, imports of industrial supplies were down 3.9 percent due to lower metal purchases. Imports rose from Spain, Germany and France, but were down from China.
2023-03-13
Portugal Trade Deficit Widens in December
Portugal's trade deficit widened to EUR 2.75 billion in December 2022 from EUR 2.54 billion in the same month last year. Exports increased 9.5 percent from a year earlier to EUR 5,820 billion, mainly capital goods and parts thereof (+24.5%) and fuels and lubricants (+50.7%). Meanwhile, imports rose 9.1 percent to EUR 8,570 billion, driven by purchases of transport equipment (+48.1%), mostly from Germany. On the other hand, imports of industrial supplies fell -7.5%, mostly of chemical products from Ireland. Considering the main partner countries, the increase in transactions with Germany is noteworthy: +9.8% in exports, mostly capital goods and parts thereof, and +18.0% in imports, mainly transport equipment. The increase in imports from Spain (+11.8%) should also be noted. In 2022 as a whole, exports and imports of goods increased by 23.1% and 31.2%, respectively. The deficit of trade balance reached EUR 30,783 million in 2022, the highest since records.
2023-02-09
Portugal Trade Gap Widens in November
Portugal's trade deficit widened to EUR 2.4 billion in November 2022 from EUR 2.2 billion in the same month last year. Exports increased 18.9 percent from a year earlier to EUR 7,204 billion, mainly to sales of transport equipment (22.2 percent, primarily to the United Kingdom and Italy), capital goods & parts thereof (30.9 percent, mainly to Spain), and fuels & lubricants (100.4 percent), mostly towards Extra-EU markets. Meanwhile, imports rose 16.2 percent to EUR 9,637 billion, driven by purchases of transport equipment (35.6 percent), mainly from Canada and Spain, and fuels & lubricants (36.0 percent), mainly from Extra-EU suppliers.
2023-01-09