Portugal Balance of Trade

Last Release

Dec 31, 2024

Actual

-2,909

Units In

EUR Million

-2,502

Frequency

Monthly

Next Release

Mar 12, 2025

Time to Release

28 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-645.17 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 €2.909 billion in December 2024 from €2.434 billion in the same month last year, as exports fell while imports increased. Exports fell by 2.5% year-on-year to €5.648 billion, due to lower sales of industrial supplies (-13.1%), food and beverages (-1.2%) and fuels and lubricants (-21.2%). On the other hand, exports of transport equipment and parts climbed 13.5%. Among major trade partners, exports fell to the US (-45.7%), but rose to Spain (1.9%), France (3.8%), and Germany (13.7%). Meanwhile, imports increased by 4% year-on-year to €8.557 billion, mainly due to higher purchases of industrial supplies (0.1%), food and beverages (6.1%), consumer goods (9.1%) and fuels and lubricants (21.3%). Imports rose from Spain (4.4%) and France (3.7%), but fell from Germany (-3.4%) and the Netherlands (-1.8%). For the whole 2024, the deficit increased to €27.887 billion from €27.808, with exports rising 2.5% and imports up 1.9%.