Portugal Balance of Trade

Last Release

Nov 30, 2024

Actual

-2,502

Units In

EUR Million

-2,535

Frequency

Monthly

Next Release

Feb 10, 2025

Time to Release

30 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-642.65 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 widened to €2.502 billion in November 2024 from €2.434 billion in the same month last year, as exports fell while imports increased. Exports fell by 1.8% year-on-year to €6.796 billion, due to lower sales of transport equipment and parts (-10%), and capital goods (-7.7%). On the other hand, exports of industrial supplies went up 1.9%. Among major trade partners, exports fell to France (-10.7%), the UK (-13.6%) and Italy (-14.4%). Meanwhile, imports increased by 4.7% year-on-year to €9.298 billion, mainly due to higher purchases of industrial supplies (23.6%) and consumer goods (7.7%). Imports rose from Netherlands (3.2%), but fell from Spain (-2.2%), Germany (-3.9%), and France (-7.3%).