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.

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Portugal Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-10-10 10:00 AM Aug €-3501M €-2107M -2177M
2022-11-09 11:00 AM Sep €-2699M €-3376M € -2840M
2022-12-09 11:00 AM Oct €-2699M € -2920M


Related Last Previous Unit Reference
Balance of Trade -2698.73 -3375.93 EUR Million Sep 2022
Imports 9548.69 9140.67 EUR Million Sep 2022
Exports 6849.96 5764.74 EUR Million Sep 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
-2698.73 -3375.93 3.55 -3375.93 1950 - 2022 EUR Million Monthly

News Stream
Portugal Trade Gap Widens Sharply on Rising Fuels Imports
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.
2022-11-09
Portugal Trade Deficit Widens Sharply in August
Portugal’s trade deficit widened to EUR 3,501 million in August of 2022 from EUR 1,753 million in the same month last year. Exports surged 32.6 percent from a year ago to EUR 5,779 million, driven by sales of fuels and lubricants (95.7 percent) and industrial supplies (21.1 percent), mainly processed goods, primarily to Spain. Meantime, Imports jumped at a much faster 51.9 percent to EUR 9,281 million, mainly because of fuels & lubricants (169 percent) amid increasing purchases of natural gas, mainly from Extra-EU markets, standing out Equatorial Guinea.
2022-10-10
Portugal Trade Deficit Widens in July
Portugal’s trade deficit widened to EUR 2,058 million in July of 2022 from EUR 1,554 million in the same month last year. Exports surged 28.3 percent from a year ago to EUR 7,156 million, driven by sales of industrial supplies (27.8 percent), mainly processed goods, primarily to Spain, and fuels and lubricants (124 percent) and transport equipment (31.8 percent), mainly to Germany. Meantime, Imports surged at a much faster 29.3 percent to EUR 9,214 million, mainly because of fuels & lubricants (93.3 percent) amid the increase in the price of these products in the international market. Industrial supplies also significantly increased (21.1 percent), particularly base metals, mainly from Spain.
2022-09-09