Portugal’s current account deficit sharply narrowed to EUR 52.5 million in February of 2021 from EUR 194.0 million in the same month of the previous year. It was the smallest current account gap for a February month since 2018, as the trade deficit of goods shrank to EUR 556.6 million from EUR 1406.9 million a year earlier, while the services surplus fell to EUR 313.7 million from 958.2 million, amid a sharp decline in tourism revenues (EUR 221.6 million from EUR 958.6 million). Meantime, the primary income deficit widened to EUR 161.3 million from EUR 106.5 million and the secondary income surplus fell to EUR 339.9 million from EUR 347.7 million. source: Banco de Portugal

Current Account in Portugal averaged -675.53 EUR Million from 1996 until 2021, reaching an all time high of 1655.06 EUR Million in August of 2017 and a record low of -2674.13 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 May of 2021.

Current Account in Portugal is expected to be -40.00 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 -220.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -100.00 EUR Million in 2022, according to our econometric models.

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Portugal Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-52.49 -282.80 1655.06 -2674.13 1996 - 2021 EUR Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-20 11:30 AM Nov €-102.9M €421.5M €-220M
2021-02-17 11:30 AM Dec €-462.4M €-172.4M €-270M
2021-03-17 11:30 AM Jan €-282.8M €-462.4M €-380M
2021-04-21 10:30 AM Feb €-52.5M €-282.8M €-230M
2021-05-19 10:30 AM Mar €-52.5M €-210M
2021-06-22 10:00 AM Apr
2021-07-20 10:30 AM May
2021-08-19 10:30 AM Jun


News Stream
Portugal Current Account Gap Narrows Sharply in February
Portugal’s current account deficit sharply narrowed to EUR 52.5 million in February of 2021 from EUR 194.0 million in the same month of the previous year. It was the smallest current account gap for a February month since 2018, as the trade deficit of goods shrank to EUR 556.6 million from EUR 1406.9 million a year earlier, while the services surplus fell to EUR 313.7 million from 958.2 million, amid a sharp decline in tourism revenues (EUR 221.6 million from EUR 958.6 million). Meantime, the primary income deficit widened to EUR 161.3 million from EUR 106.5 million and the secondary income surplus fell to EUR 339.9 million from EUR 347.7 million.
2021-04-21
Portugal Current Account Gap Widens in January
Portugal’s current account deficit widened to EUR 282.8 million in January of 2021 from EUR 140.9 million in the same month of the previous year. It was the second largest current account gap since last May, as the services surplus narrowed to EUR 404.5 million from 1,018.8 million in January of 2020, amid a sharp decline in tourism revenues (EUR 357.8 million from EUR 993.8 million), while the secondary income surplus fell to EUR 53.2 million from EUR 270.2 million. On the other hand, the primary income deficit shrank to EUR 55.9 million from EUR 187.6 million and the trade gap of goods narrowed to EUR 684.5 million from EUR 1242.4 million.
2021-03-17
Portugal Current Account Swings to Gap in December
Portugal posted a current account deficit of EUR 462.4 million in December of 2020 compared with a surplus of EUR 24.1 million in the same month of the previous year. It was the largest current account gap since last May, as the primary income deficit rose to EUR 257.8 million from EUR 132.2 million in December of 2019 and the services surplus fell to EUR 557.8 million from EUR 1260.2 million, amid a sharp decline in tourism revenues (EUR 519.6 million from EUR 1060.7 million). At the same time, the trade deficit narrowed to EUR 1230.9 million from EUR 1305.1 million and the secondary income surplus fell to EUR 468.4 million from EUR 593 million, partly attributed to the evolution of the current transfers, namely due to an increase of EU budget contributions, as well as a decrease in workers' remittances. In 2020, the country's current account shifted to a deficit of EUR 2377 million compared to a surplus of EUR 821 million a year earlier.
2021-02-17
Portugal Current Account Deficit Widens in November
Portugal's current account deficit widened to EUR 102.9 million in November 2020, from EUR 57.9 million in the same month last year, as the primary income gap increased to EUR 157.0 million from EUR 132.2 million, while the secondary income surplus declined to EUR 222.6 million from EUR 386.0 million. In addition, the services surplus shrank to EUR 549.9 million from EUR 861.9 million a year earlier, with tourism revenues falling to EUR 447.7 million from EUR 993.8 million. The goods deficit, however, was down to EUR 718.4 million from EUR 1,173.6 million a year ago. Considering January-November, the current account posted a EUR 1,926 million deficit, compared with a EUR 97 million surplus in the same period of 2019.
2021-01-20

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).