The trade deficit in Portugal narrowed sharply to EUR 0.708 billion in February of 2021 from EUR 1.544 billion a year ago. Imports went down 10.9 percent year-on-year to EUR 5.718 billion, the 12th consecutive month of declines, mainly due to fuels and lubricants (-15.5 percent) and transportation material (-35.0 percent). In contrast, exports rebounded and went up 2.8 percent to EUR 5.011 billion, boosted by sales of industrial materials (6.7 percent). Excluding fuels and lubricants, exports rose by 2.3 percent to EUR 4.681 billion, while imports sank 10.4 percent to EUR 5.117 billion. source: Statistics Portugal
Balance of Trade in Portugal averaged -560.10 EUR Million from 1950 until 2021, 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. 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 May of 2021.
Balance of Trade in Portugal is expected to be -1460.00 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 -1440.00 in 12 months time. In the long-term, the Portugal Balance of Trade is projected to trend around -1440.00 EUR Million in 2022 and -1490.00 EUR Million in 2023, according to our econometric models.