Portugal Current Account Gap Narrows in December

2025-02-19 12:18 By Joana Ferreira 1 min. read

Portugal's current account deficit narrowed to €863 million in December 2024, down from €1,316 million in the same month of the previous year.

The primary income gap declined to €296 million from €702 million a year earlier, while the services surplus increased to €2,428 million from €1,878 million, driven by a rise in tourism revenues to €1,571 million from €1,450 million.

Meanwhile, the goods deficit widened to €2,781 million from €2,558 million, and the secondary income account recorded a €213 million deficit, compared with a €66 million surplus in December 2023.

For the full year 2024, the current account surplus rose to €6.14 billion, equivalent to 2.2% of GDP, up from €1.48 billion in 2023, or 0.6% of GDP.



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