Portugal's trade deficit shrank to EUR 827.8 million in June of 2020 from EUR 1876.9 million in the same month of the previous year. It was the smallest monthly trade shortfall since July of 2016, as imports slipped 23.1% from a year earlier to EUR 5095 million, amid reduced purchases of transport equipment (-49.4%), of which passenger vehicles (-53.7%) and auto parts (-27.4%); and fuels & lubricants (-65.5%), owing to the closure of the national refineries in the most critical months of the pandemic. Among key trading partners, imports fell from Spain (-10.3%), Germany (-16.9%), France (-55%), Italy (-20%), but rose from the Netherlands (4.7%) and China (20.5%), on the back of personal protective equipment such as masks. Exports fell at a slower 10.1% to EUR 4267 million, on lower shipments of industrial supplies (-13%) and passenger vehicles (-21.5%). Sales were down mostly to Spain (-7.3%), France (-5.9%), Germany (-10.2%), the UK (-13.4%), the US (-16%) and Italy (-18.4%).

Balance of Trade in Portugal averaged -556.16 EUR Million from 1950 until 2020, 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 2020.

Balance of Trade in Portugal is expected to be -1700.00 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 -1500.00 in 12 months time. In the long-term, the Portugal Balance of Trade is projected to trend around -1440.00 EUR Million in 2021 and -1690.00 EUR Million in 2022, according to our econometric models.

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Portugal Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-827.78 -920.52 3.55 -2524.87 1950 - 2020 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-05-08 10:00 AM Mar €-1586M €-1559M €-1580M
2020-06-09 10:00 AM Apr €-1131M €-1586M €-2000M
2020-07-10 10:00 AM May €-908M €-1123M €-1700M
2020-08-07 10:00 AM Jun €-828M €-908M €-1200M
2020-09-09 10:00 AM Jul €-828M €-1600M
2020-10-09 10:00 AM Aug €-1400M
2020-11-09 11:00 AM Sep € -2230M
2020-12-10 11:00 AM Oct €-1270M


News Stream
Portugal Posts Smallest Trade Gap since 2016
Portugal's trade deficit shrank to EUR 827.8 million in June of 2020 from EUR 1876.9 million in the same month of the previous year. It was the smallest monthly trade shortfall since July of 2016, as imports slipped 23.1% from a year earlier to EUR 5095 million, amid reduced purchases of transport equipment (-49.4%), of which passenger vehicles (-53.7%) and auto parts (-27.4%); and fuels & lubricants (-65.5%), owing to the closure of the national refineries in the most critical months of the pandemic. Among key trading partners, imports fell from Spain (-10.3%), Germany (-16.9%), France (-55%), Italy (-20%), but rose from the Netherlands (4.7%) and China (20.5%), on the back of personal protective equipment such as masks. Exports fell at a slower 10.1% to EUR 4267 million, on lower shipments of industrial supplies (-13%) and passenger vehicles (-21.5%). Sales were down mostly to Spain (-7.3%), France (-5.9%), Germany (-10.2%), the UK (-13.4%), the US (-16%) and Italy (-18.4%).
2020-08-07
Portugal Trade Gap Narrows in May
Portugal's trade deficit narrowed to EUR 0.908 billion in May of 2020 from EUR 1.630 billion in the corresponding month of the previous year. Exports plummeted 39% from a year earlier to EUR 3.417 billion, mainly due to lower sales of transport equipment (-54%) and industrial supplies (-33.5%). Among key trading partners, exports were down to Spain (-41.2%), France (-32.5%), Germany (-33.5%), the UK (-45.6%), the US (-52.4%) and Italy (-40.7%). Imports fell at a faster 40.2% to EUR 4.325 billion, dragged down by lower purchases of transport equipment (-66.6%), fuels and lubricants (-78.7%) mostly due to the closure of the national refineries, and industrial supplies (-32.6%). Imports declined from Spain (-31.3%), Germany (-42.4%), France (-62.6%), Italy (-37.2%) and the Netherlands (-21.6%), but rose from China (5.1%) on the back of consumption goods, mostly originated in imports of individual protective equipment (mainly masks).
2020-07-10
Portugal Trade Gap Narrows as Exports, Imports Plunge at Record Rates
Portugal's trade deficit narrowed to EUR 1.13 billion in April 2020 from EUR 1.80 billion in the same period last year, as exports and imports plummeted 39.8 percent and 39.1 percent, respectively, as the coronavirus crisis hit global demand. Exports hit the lowest level since August 2011 mainly due to lower sales of transport equipment (-77.6 percent) and industrial supplies (-27.6 percent). Among key trading partners, exports were down to Spain (-43.3 percent), France (-44.7 percent), Germany (-44.7 percent), the UK (-43.3 percent), the US (-34 percent) and Italy (-47.2 percent). Imports tumbled to the lowest since January 2010 led by purchases of transport equipment (-75.2 percent) and industrial supplies (-30.4 percent), as well. Imports declined from Spain (-36.7 percent), Germany (-54.5 percent), France (-54.2 percent), Italy (-44.5 percent) and the Netherlands (-27.9 percent), but rose from China (26.8 percent) on the back of personal protective equipment purchases.
2020-06-09
Portugal Trade Gap Narrows as Exports, Imports Fall
Portugal's trade deficit narrowed to EUR 1.59 billion in March 2020 from EUR 1.74 billion in the same month last year. Exports tumbled 13 percent to a six-month low mainly due to lower sales of passenger vehicles (-46.4 percent), industrial supplies (-8.1 percent) and consumer goods (-13.1 percent). Among major trade partners, exports were down to Spain, France, Germany, the UK and Italy, but were up to the US. Meanwhile, imports plunged 11.9 percent, led by lower purchases of transport equipment (-38.4 percent) in particular aircraft, machinery and other capital goods (-13.7 percent), industrial supplies (-4.2 percent) and consumer goods (-7.5 percent). Imports were down from Spain, Germany, France, Italy, the Netherlands, and China among others.
2020-05-08

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.