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.

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Portugal Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-707.60 -869.04 3.55 -2524.87 1950 - 2021 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-01-08 11:00 AM Nov €-888M €-999M €-1200M
2021-02-09 11:00 AM Dec €-1370M €-893M €-1060M
2021-03-12 11:00 AM Jan €-834M €-1377M €-1280M
2021-04-09 10:00 AM Feb €-708M €-869M €-1040M
2021-05-10 10:00 AM Mar €-708M €-860M
2021-06-09 10:00 AM Apr
2021-07-09 10:00 AM May
2021-08-06 10:00 AM Jun


News Stream
Portugal Trade Deficit More Than Halved in February
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.
2021-04-09
Portugal Trade Gap Narrows Amid Falling Imports
The trade deficit in Portugal narrowed sharply to EUR 0.834 billion in January of 2021 from EUR 1.464 billion a year earlier as imports continued to decline and at the fastest pace in six months. Imports slumped 17.2 percent year-on-year to EUR 5.475 billion, mainly due to falling purchases of fuels and lubricants (-46.1 percent) and transportation material (-26.4 percent). Similarly, exports dropped 9.8 percent to EUR 4.640 billion, also dragged by fewer sales of fuels and lubricants (-39.3 percent) and transportation material (-10.9 percent). Excluding fuels and lubricants, exports sank 7.3 percent to EUR 4.390 billion and imports plunged 12.6 percent to EUR 4.990 billion.
2021-03-12
Portugal Trade Deficit Nearly Halves in October
The trade deficit in Portugal fell sharply to EUR 0.965 billion in October of 2020 from EUR 1.7 billion a year earlier as imports continued to decline and at the fastest pace in three months. Imports slumped 11.8 percent year-on-year to EUR 6.4 billion, mainly due to falling purchases of fuels and lubricants (-36.9 percent) and transportation material (-16.8 percent). Meanwhile, exports dropped 2.2 percent to EUR 5.45 billion, reversing from a 0.2 percent rise in September mainly due to industrial supplies.
2020-12-10
Portugal Trade Gap Falls as Imports Continue to Slump
Portugal trade deficit narrowed to EUR 1.088 billion in September of 2020 from EUR 1.73 billion a year earlier as imports continue to fall although it was the smallest decline in seven months. Purchases slumped 9.9 percent year-on-year to EUR 6 billion, mainly due to falling imports of fuels and lubricants (-39.4 percent) mainly from Angola and transportation material (-19.9 percent), namely airplanes from France. Meanwhile, exports edged down 0.4 percent to EUR 4.972 billion, mainly due to fuels and lubricants. Excluding this category, sales went up 0.2 percent, boosted by shipments of machinery and other capital goods (12.1 percent) and food and drinks (5.2 percent), mostly to Spain. Considering the third quarter of the year, exports went down 3.3 percent and imports fell 13.8 percent.
2020-11-09

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.