Portugal's current account deficit widened to €632.82 million in May 2026, from €445.25 million in the same month a year earlier. The deterioration was primarily driven by a 4.2% decline in the services account surplus to €2.71 billion, reflecting lower receipts from technical trade-related services and other business services. The goods account deficit also widened, rising 4.7% to €2.57 billion, as import growth (4.2%) outpaced export growth (4.0%), despite tourism revenues increasing to €2.74 billion. Meanwhile, the primary income deficit narrowed 0.6% to €1.27 billion, while the secondary income surplus increased 8.6% to €493 million, supported by higher reinsurance claims received from abroad related to compensation for damages caused by the storms that affected Portugal during the first months of the year. source: Banco de Portugal

Portugal recorded a Current Account deficit of 632.82 EUR Million in May of 2026. Current Account in Portugal averaged -535.77 EUR Million from 1996 until 2026, reaching an all time high of 1657.06 EUR Million in August of 2024 and a record low of -2367.05 EUR Million in June of 2010. 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 - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-18 10:30 AM
Current Account
Apr €350.41M €93.97M €320.0M
2026-07-17 10:30 AM
Current Account
May €-632.82M €350.41M €-340.0M
2026-08-19 10:30 AM
Current Account
Jun €-632.82M


Related Last Previous Unit Reference
Balance of Trade -2811.00 -2896.00 EUR Million May 2026
Capital Flows -128.22 1132.64 EUR Million May 2026
Current Account -632.82 350.41 EUR Million May 2026
Current Account to GDP 1.20 2.20 percent of GDP Dec 2025
Exports 7318.00 7395.00 EUR Million May 2026
External Debt 463098.92 445830.23 EUR Million Mar 2026
Foreign Direct Investment 1238.35 3025.18 EUR Million May 2026
Remittances 348.27 344.00 EUR Million May 2026
Tourism Revenues 2739.35 2383.51 EUR Million May 2026


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).
Actual Previous Highest Lowest Dates Unit Frequency
-632.82 350.41 1657.06 -2367.05 1996 - 2026 EUR Million Monthly
Current Prices, NSA

News Stream
Portugal Current Account Deficit Widens in May
Portugal's current account deficit widened to €632.82 million in May 2026, from €445.25 million in the same month a year earlier. The deterioration was primarily driven by a 4.2% decline in the services account surplus to €2.71 billion, reflecting lower receipts from technical trade-related services and other business services. The goods account deficit also widened, rising 4.7% to €2.57 billion, as import growth (4.2%) outpaced export growth (4.0%), despite tourism revenues increasing to €2.74 billion. Meanwhile, the primary income deficit narrowed 0.6% to €1.27 billion, while the secondary income surplus increased 8.6% to €493 million, supported by higher reinsurance claims received from abroad related to compensation for damages caused by the storms that affected Portugal during the first months of the year.
2026-07-17
Portugal Current Account Surplus Widens
Portugal’s current account posted a surplus of €350.41 million in April 2026, reaching the highest level in six months, up from a surplus of €234.95 million recorded a year earlier. The secondary income surplus increased by €112 million driven by increased reinsurance claim inflows from abroad, linked to compensation for damages caused by storms that struck Portugal earlier in the year. In contrast, the primary income deficit widened by €158 million, mainly due to higher interest income received from abroad and lower interest payments to non-residents. Meanwhile, tourism revenues increased to €2383.51 million from €2263 million. In contrast, the goods account deficit increased by €189 million, as imports increased at a faster pace than exports.
2026-06-18
Portugal Current Account Swings to Surplus
Portugal’s current account posted a surplus of €93.97 million in March 2026, reversing from a deficit of €70.53 million recorded a year earlier. The secondary income surplus widened to €463.2 million from €440.7 million, while the primary income deficit narrowed significantly to €232.3 million from €508.7 million, largely reflecting lower interest payments and stronger property income flows. In contrast, the trade deficit widened to €2,581.9 million from €2,524.3 million, as imports grew faster than exports. The services surplus also narrowed to €2,445.2 million from €2,521.8 million, mainly due to weaker business and transportation services exports.
2026-05-21