Portugal's current account deficit narrowed sharply to EUR 0.01 billion in June 2019 from EUR 0.53 billion in the same month last year, as the goods deficit decreased to EUR 1.26 billion from EUR 1.43 billion and the primary income gap declined to EUR 0.36 billion from EUR 0.56 billion. In addition, the services surplus widened to EUR 1.33 billion from EUR 1.31 billion a year earlier amid gains in tourism revenues (EUR 1.56 billion from EUR 1.43 billion), while the secondary income surplus went up to EUR 0.18 billion from EUR 0.16 billion, boosted by migrants' remittances (EUR 0.31 billion from EUR 0.29 billion). Considering the first half of the year, the current account deficit widened to EUR 3.25 billion from EUR 2.41 billion in the same period of 2018. Current Account in Portugal averaged -761.26 EUR Million from 1996 until 2019, reaching an all time high of 1105.17 EUR Million in July of 2016 and a record low of -2590.60 EUR Million in June of 2010.

Current Account in Portugal is expected to be 551.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Portugal to stand at -100.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -120.00 EUR Million in 2020, according to our econometric models.

Portugal Current Account
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-21 10:30 AM Current Account Mar €-324.7M €-525.4M €-120M
2019-06-25 10:30 AM Current Account Apr €8.6M €-324.7M €-420M
2019-07-17 10:30 AM Current Account May €-1564M €8.6M €-970M
2019-08-21 10:30 AM Current Account Jun €-99M €-1565M €51M
2019-09-18 10:30 AM Current Account Jul €-99M €570M
2019-10-18 10:30 AM Current Account Aug €440M
2019-11-21 11:30 AM Current Account Sep €551M


Portugal Trade Last Previous Highest Lowest Unit
Balance of Trade -1750.78 -1906.43 3.55 -2524.87 EUR Million [+]
Current Account -99.12 -1564.57 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 -80.71 -1188.11 1857.05 -2366.47 EUR Million [+]
Foreign Direct Investment 488.33 430.87 6288.10 -3307.52 EUR Million [+]
Remittances 309.49 281.67 515.40 153.66 EUR Million [+]
Tourism Revenues 1558.61 1632.65 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 Current Account

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). This page provides the latest reported value for - Portugal Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Portugal Current Account - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-99.12 -1564.57 1105.17 -2590.60 1996 - 2019 EUR Million Monthly
Current Prices, NSA




Country Last Previous
Argentina -3849.43 Mar/19
Australia 5853.00 Jun/19
Brazil -9034.90 Jul/19
Canada -6380.00 Jun/19
China 570.00 Jun/19
Euro Area 23.09 Jun/19
France 173.00 Jul/19
Germany 22100.00 Jul/19
India -4600.00 Mar/19
Indonesia -8442.80 Jun/19
Italy 5046.60 Jun/19
Japan 1999.92 Jul/19
Mexico 5142.70 Jun/19
Netherlands 18079.00 Mar/19
Russia 12100.00 Jun/19
Saudi Arabia 11518.00 Mar/19
Singapore 21497.50 Jun/19
South Africa -204100.00 Jun/19
South Korea 6949.40 Jul/19
Spain 2050.00 Jun/19
Switzerland 17215.95 Mar/19
Turkey 1158.00 Jul/19
United Kingdom -30045.00 Mar/19
United States -130400.00 Mar/19


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