Portugal’s trade deficit widened significantly to EUR 2,522 million in June of 2022 from EUR 1,619 million in the same month last year. Exports surged 37.1 percent from a year ago to EUR 7,051 million, driven by sales of industrial supplies (29 percent), mainly processed goods, primarily to Spain, and transport equipment (60.6 percent), mainly to the US. Meantime, Imports surged at a much faster 41.6 percent to EUR 9,573 million, mainly because of fuels & lubricants (220.3 percent) amid the increase in the price of these products in the international market. Industrial supplies also significantly increased (21.2 percent), mainly from Spain. source: Statistics Portugal

Balance of Trade in Portugal averaged -587.07 EUR Million from 1950 until 2022, reaching an all time high of 3.55 EUR Million in May of 1955 and a record low of -2542.38 EUR Million in December of 2021. 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 August of 2022.

Balance of Trade in Portugal is expected to be -1340.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal Balance of Trade is projected to trend around -1490.00 EUR Million in 2023, according to our econometric models.

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Portugal Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-07-11 10:00 AM May €-2421M €-2468M €-2550M
2022-08-09 10:00 AM Jun €-2522M €-2377M € -740M
2022-09-09 10:00 AM Jul €-2522M


Related Last Previous Unit Reference
Balance of Trade -2521.96 -2376.85 EUR Million Jun 2022
Imports 9572.94 9846.88 EUR Million Jun 2022
Exports 7050.99 7470.03 EUR Million Jun 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-2521.96 -2376.85 3.55 -2542.38 1950 - 2022 EUR Million Monthly

News Stream
Portugal Trade Deficit Widens Sharply in June
Portugal’s trade deficit widened significantly to EUR 2,522 million in June of 2022 from EUR 1,619 million in the same month last year. Exports surged 37.1 percent from a year ago to EUR 7,051 million, driven by sales of industrial supplies (29 percent), mainly processed goods, primarily to Spain, and transport equipment (60.6 percent), mainly to the US. Meantime, Imports surged at a much faster 41.6 percent to EUR 9,573 million, mainly because of fuels & lubricants (220.3 percent) amid the increase in the price of these products in the international market. Industrial supplies also significantly increased (21.2 percent), mainly from Spain.
2022-08-09
Portugal Trade Gap Widens Markedly in May
Portugal’s trade deficit widened significantly to EUR 2,421 million in May of 2022 from EUR 1,446 million in the same month last year. Imports surged by 46.4% year-on-year to a record high of EUR 9,877 million, mainly on account of fuels & lubricants (+147.8%), amid the increase in the price of these products in the international market, as well as the result of the introduction in the market of the natural gas previously subjected to the customs warehousing procedure, with a view to the closure of the warehouse in Sines. Industrial supplies also recorded a significant increase (+38.6%), mostly from Spain. At the same time, exports advanced by 40.6% to an all-time high of EUR 7,455 million, driven by sales of industrial supplies ( +60.3%), particularly processed goods, mostly to the US, with special emphasis on pharmaceutical products, and Spain.
2022-07-11
Portugal April Trade Gap Widens Sharply
Portugal’s trade deficit widened substantially to EUR 2,445 million in April of 2022 from EUR 1,406 million in the same month last year. Exports rose 17.3 percent from a year earlier to EUR 6,246 million, driven by sales of industrial supplies (26.7 percent) and fuel and lubricants (95.5 percent), both mainly to Spain. Meantime, imports surged 29.2 percent to EUR 8,691 million amid soaring purchases of industrial supplies (128.4 percent), partly reflecting rising prices, and industrial supplies (29.7 percent), both coming mainly from Spain.
2022-06-09