Portugal Balance of Trade

Last Release

Jan 31, 2025

Actual

-1,698

Units In

EUR Million

-2,909

Frequency

Monthly

Next Release

Apr 09, 2025

Time to Release

26 Days 11 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-646.34 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 €1.698 billion in January 2025 from €1.757 billion in the same month last year, as exports rose more than imports. Exports jumped by 11.7% year-on-year to €7.079 billion, due to higher sales of chemical products (263.1%), machinery, mechanical appliances (4.7%), base metals (2.6%) and agricultural products (5.4%). Among major trade partners, exports rose to Spain (+2.6%) and Germany (91.2%), but fell to France (-5.4%), the US (13.4%) and the UK (-2.3%). Meanwhile, imports increased by 8.4% year-on-year to €8.778 billion, mainly due to higher purchases of machinery, mechanical appliances (3.8%), chemical products (52.3%), and agricultural products (5.2%). However, imports of vehicles and other transport equipments fell 0.6%. Imports rose from Spain (3%), Germany (4.8%), France (8.1%) and the Netherlands (20.1%).