Portugal’s current account deficit widened sharply to EUR 1854.25 million in May of 2022, a level not seen since June of 2010 and compared to EUR 943.61 million gap in the same month of last year. The goods trade account registered its largest shortfall in 12 years at EUR 2,106.96 million, widening sharply from EUR 1,199.61 million in the same month of last year, as imports soared 41.7% and exports rose a slower 33.8%. This more than offset the rise in the services account superavit to EUR 1,603.48 million, from EUR 537.86 million a year ago, which reflected higher tourism and travel exports. At the same time, the primary income shortfall widened to EUR 1,795.88 million, from EUR 915.56 million amid higher dividend payments from Portuguese entities to foreign investors, while the secondary income surplus shrank to EUR 445.12 million from EUR 633.71 million a year ago, as EU funds decreased. source: Banco de Portugal
Current Account in Portugal averaged -661.59 EUR Million from 1996 until 2022, 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 August of 2022.
Current Account in Portugal is expected to be 450.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal Current Account is projected to trend around -320.00 EUR Million in 2023 and -310.00 EUR Million in 2024, according to our econometric models.