Portugal's trade deficit widened to EUR 2.7 billion in September 2022, the second-largest on record, from EUR 1.9 billion in the same month last year. Imports increased 29.6 percent to EUR 9.5 billion, mainly due to purchases of fuels and lubricants (51.0 percent) on the back of surging energy prices, and industrial supplies (39.1 percent). Among major trade partners, imports were up from Spain (28.8 percent), Germany (26.5 percent), France (29.5 percent), Brazil (84.7 percent) and China (59.3 percent). Meanwhile, exports advanced at a softer 24.7 percent to EUR 6.9 billion, mainly boosted by sales of industrial supplies (24.3 percent), machinery (31.5 percent), and transport equipment (24.5 percent). Exports were up to Spain (20.8 percent), France (21.4 percent), Germany (23.8 percent), the US (13.8 percent) and Italy (28.6 percent). Considering January to September, the trade gap widened sharply to EUR 22.5 billion from EUR 12.7 billion in the same period of 2021. source: Statistics Portugal
Balance of Trade in Portugal averaged -594.77 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 -3375.93 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 November of 2022.
Balance of Trade in Portugal is expected to be -1490.00 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.