Portugal's trade deficit widened to EUR 1.75 billion in July 2019 from EUR 1.30 billion in the same month last year, as imports jumped 7.9 percent to a near record high, mainly boosted by purchases of transport equipment (27.9 percent) in particular aircraft. Among key trading partners, imports rose mainly from France (67 percent), Spain (4.2 percent), China (35.1 percent) and Belgium (20.3 percent), but declined from Germany (-5.9 percent). Meanwhile, exports increased at a softer 1.3 percent on the back of a 3.9 percent rise in industrial supplies sales, while exports of fuels and lubricants tumbled 20.8 percent. Exports were up to France (10.8 percent) and the US (7.4 percent), but were down to Spain (-1.5 percent), Germany (-2.8 percent), and the UK (-6.7 percent). Balance of Trade in Portugal averaged -543.76 EUR Million from 1950 until 2019, 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.

Balance of Trade in Portugal is expected to be -1180.00 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 -920.00 in 12 months time. In the long-term, the Portugal Balance of Trade is projected to trend around -1440.00 EUR Million in 2020, according to our econometric models.

Portugal Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-07 10:00 AM Balance of Trade Apr €-1802M €-1802M €-1050M
2019-07-10 10:00 AM Balance of Trade May €-1631M €-1839M €-1320M
2019-08-09 10:00 AM Balance of Trade Jun €-1833M €-1615M €-940M
2019-09-09 10:00 AM Balance of Trade Jul €-1751M €-1906M €-1010M
2019-10-10 10:00 AM Balance of Trade Aug €-1751M €-1220M
2019-11-08 11:00 AM Balance of Trade Sep € -1180M
2019-12-10 11:00 AM Balance of Trade Oct €-1020M


Portugal Trade Last Previous Highest Lowest Unit
Balance of Trade -1750.78 -1906.43 3.55 -2524.87 EUR Million [+]
Current Account 649.31 -99.12 1105.17 -2590.60 EUR Million [+]
Current Account to GDP -0.60 0.50 3.10 -14.70 percent [+]
Imports 7128.47 6647.02 7238.36 0.00 EUR Million [+]
Exports 5377.69 4740.58 5595.46 1.69 EUR Million [+]
External Debt 417357.00 414409.79 421132.40 56392.07 EUR Million [+]
Capital Flows 743.92 -80.71 1857.05 -2366.47 EUR Million [+]
Foreign Direct Investment 445.52 488.33 6288.10 -3307.52 EUR Million [+]
Remittances 369.76 309.49 515.40 153.66 EUR Million [+]
Tourism Revenues 2021.05 1558.61 2196.02 199.98 EUR Million [+]
Gold Reserves 382.54 382.50 606.76 382.48 Tonnes [+]
Terrorism Index 0.00 0.00 1.85 0.00 [+]
Tourist Arrivals 5658153.00 5008435.00 5997806.00 88000.00 [+]
Weapons Sales 3.00 56.00 172.00 0.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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. This page provides - Portugal Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Balance of Trade - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1750.78 -1906.43 3.55 -2524.87 1950 - 2019 EUR Million Monthly




Country Last Previous
Argentina 951.00 Jul/19
Australia 7268.00 Jul/19
Brazil 3280.00 Aug/19
Canada -1124.40 Jul/19
China 348.26 Aug/19
Euro Area 24789.70 Jul/19
France -4607.00 Jul/19
Germany 21449.00 Jul/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico -1117.00 Jul/19
Netherlands 4127.00 Jul/19
Russia 11224.00 Jul/19
Saudi Arabia 131636.00 Mar/19
Singapore 3787.85 Aug/19
South Africa -2880.82 Jul/19
South Korea 1723.00 Aug/19
Spain -2490000.00 Jul/19
Switzerland 1152.71 Aug/19
Turkey -3191.93 Jul/19
United Kingdom -219.00 Jul/19
United States -53989.00 Jul/19


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