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.