Portugal Balance of Trade

Last Release

Oct 31, 2024

Actual

-2,535

Units In

EUR Million

-2,371

Frequency

Monthly

Next Release

Jan 09, 2025

Time to Release

28 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-640.58 EUR Million	1950-2024	Statistics Portugal

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.

Latest Updates

Portugal's trade deficit narrowed to €2.535 billion in October 2024 from €2.926 billion in the same month last year, as exports rose more than imports. Exports rose by 17.1% year-on-year to €7.420 billion, driven by higher sales of industrial supplies (16.8%), transportation equipment (21.7%), consumer goods (19.5%) and capital goods (8.6%). Among major trade partners, exports increased to Spain (14.7%), France (4.8%), and Germany (26.4%). Meanwhile, imports increased by 7.5% year-on-year to €9.955 billion, mainly due to higher purchases of capital goods (4.8%), transport equipment (5.4%), consumer goods (20.5%) and food & beverages (14.1%). Imports rose from Spain (10.5%), Germany (6.4%), France (15.5%), and Netherlands (1.3%).