The trade deficit in Portugal widened to EUR 1.369 billion in May of 2021 from EUR 0.947 billion a year earlier, when both exports and imports recorded sharp declines. Exports were 52.4 percent higher from May 2020 to EUR 5.300 billion, mainly boosted by sales of industrial supplies (55.6 percent), consumption goods (39.0 percent), and transport equipment & accessories (69.9 percent). Exports rose in most key trading partners, namely Spain (78.1 percent), France (36.6 percent), and Germany (30.7 percent). Moreover, imports hiked 52.6 percent to EUR 6.669 billion, driven by purchases of industrial supplies (60.6 percent), capital goods (36.5 percent), and consumption goods (16.1 percent). Among key trading partners, imports were up from Spain (46.7 percent), Germany (55.4 percent), and France (58.3 percent). source: Statistics Portugal

Balance of Trade in Portugal averaged -562.67 EUR Million from 1950 until 2021, reaching an all time high of 3.55 EUR Million in May of 1955 and a record low of -2524.87 EUR Million in June of 2010. This page provides - Portugal Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.

Balance of Trade in Portugal is expected to be -700.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Portugal to stand at -720.00 in 12 months time. In the long-term, the Portugal Balance of Trade is projected to trend around -1490.00 EUR Million in 2022, according to our econometric models.

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Portugal Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1369.00 -1302.00 3.55 -2524.87 1950 - 2021 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-04-09 10:00 AM Feb €-708M €-869M €-1040M
2021-05-10 10:00 AM Mar €-1002M €-708M €-860M
2021-06-09 10:00 AM Apr €-1260M €-1048M €-1200M
2021-07-09 10:00 AM May €-1369M €-1302M
2021-08-09 10:00 AM Jun €-1369M €-1100M
2021-09-09 10:00 AM Jul
2021-10-08 10:00 AM Aug
2021-11-09 11:00 AM Sep € -1470M


News Stream
Portugal Trade Deficit Widens in May
The trade deficit in Portugal widened to EUR 1.369 billion in May of 2021 from EUR 0.947 billion a year earlier, when both exports and imports recorded sharp declines. Exports were 52.4 percent higher from May 2020 to EUR 5.300 billion, mainly boosted by sales of industrial supplies (55.6 percent), consumption goods (39.0 percent), and transport equipment & accessories (69.9 percent). Exports rose in most key trading partners, namely Spain (78.1 percent), France (36.6 percent), and Germany (30.7 percent). Moreover, imports hiked 52.6 percent to EUR 6.669 billion, driven by purchases of industrial supplies (60.6 percent), capital goods (36.5 percent), and consumption goods (16.1 percent). Among key trading partners, imports were up from Spain (46.7 percent), Germany (55.4 percent), and France (58.3 percent).
2021-07-09
Portugal Trade Gap Widens in April
The trade deficit in Portugal widened to EUR 1.255 billion in April of 2021 from EUR 1.181 billion in April 2020 when the COVID-19 pandemic hit the economy the most and both exports and imports recorded shar declines. Exports jumped significantly by 82.4 percent YoY to EUR 5.338 billion, mainly boosted by sales of transport materials (377.5 percent) and industrial supplies (55.2 percent). Moreover, imports accelerated by 60.4 percent to EUR 6.593 billion, due to industrial supplies (58.7 percent) and transport materials (265.5 percent). Excluding fuels and lubricants, exports went up by 82.1 percent to EUR 5.063 billion, while imports increased by 60.1 percent to EUR 5.953 billion.
2021-06-09
Portugal Trade Gap Narrows as Exports Soar
The trade deficit in Portugal narrowed sharply to EUR 1,002 billion in March of 2021 from EUR 1,556 billion a year ago, when the coronavirus outbreak started to weigh on the economies. Exports jumped by 28.8 percent year-on-year to EUR 5,806 billion, boosted by sales of transport materials (61.0 percent) and industrial supplies (18.3 percent). Moreover, imports went up by 12.2 percent to EUR 6,808 billion, due to industrial supplies (15.1 percent) and machines and capital goods (27.3 percent). Excluding fuels and lubricants, exports rose by 27.9 percent to EUR 5,471, billion, while imports increased by 15.0 percent to EUR 6,215 billion.
2021-05-10
Portugal Trade Deficit More Than Halved in February
The trade deficit in Portugal narrowed sharply to EUR 0.708 billion in February of 2021 from EUR 1.544 billion a year ago. Imports went down 10.9 percent year-on-year to EUR 5.718 billion, the 12th consecutive month of declines, mainly due to fuels and lubricants (-15.5 percent) and transportation material (-35.0 percent). In contrast, exports rebounded and went up 2.8 percent to EUR 5.011 billion, boosted by sales of industrial materials (6.7 percent). Excluding fuels and lubricants, exports rose by 2.3 percent to EUR 4.681 billion, while imports sank 10.4 percent to EUR 5.117 billion.
2021-04-09

Portugal Balance of Trade
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.