Portugal Balance of Trade

Last Release

Feb 28, 2025

Actual

-1,952.14

Units In

EUR Million

-1,698

Frequency

Monthly

Next Release

May 09, 2025

Time to Release

27 Days 8 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-647.79 EUR Million	1950-2025	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 EUR 1.95 billion in February 2025, down from EUR 2.44 billion in the same month of 2024, as exports saw a strong rebound. Overseas sales jumped 11.9% to EUR 7.30 billion, driven by higher shipments of industrial supplies (37.3%), along with gains in capital goods and parts (9.8%) and consumer goods (5.6%). Exports were up to Germany (73.4%), the U.S. (24.0%), Spain (5.9%) and France (2.1%). Imports rose at a more modest pace of 3.3% to EUR 9.26 billion, fueled by increased purchases of consumer goods (9.8%), capital goods and parts (4.8%), and fuels and lubricants (6.7%). On a country basis, imports were notably higher from China (30.4%) and France (15.6%), while imports from Ireland dropped sharply by 36.7%.