Portugal Balance of Trade

Last Release

Sep 30, 2024

Actual

-2,371

Units In

EUR Million

-2,640.36

Frequency

Monthly

Next Release

Dec 09, 2024

Time to Release

29 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-638.46 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 €2.371 billion in September 2024 from €2.403 billion in the same month last year, as exports rose more than imports. Exports rose by 5.1% year-on-year to €6.488 billion, driven by higher sales of transportation equipment (20.1%), consumer goods (7.2%), capital goods (3.2%) and food & beverages (8.3%). Among major trade partners, exports increased to Spain (10.8%), France (4.5%), and Germany (16.4%). Meanwhile, imports increased by 3.3% year-on-year to €8.858 billion, mainly due to higher purchases of industrial supplies (10.7%), food & beverages (6%), capital goods (1.3%), transport equipment (28%) and consumer goods (5.6%). Imports rose from Spain (0.9%), Germany (9.3%), France (19.2%), and Netherlands (45.4%).