Portugal Current Account Swings to Surplus

2026-05-21 10:40 By Larissa Caser 1 min. read

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.



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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
Portugal’s Current Account Surplus Plunges in January
Portugal’s current account surplus shrunk to just €17 million in January 2026, down sharply from €456 million a year earlier. The services surplus eased to €2,035 million (vs. €2,207 million in January 2025), with tourism revenues nearly flat at €1,596 million (vs. €1,550 million). The secondary income surplus also fell to €308 million (from €381 million), while the goods deficit widened to €2,138 million (from €1,908 million). The primary income deficit narrowed slightly to €188 million (from €225 million).
2026-03-20
Portugal Current Account Shifts to Deficit in November
Portugal’s current account recorded a deficit of €68.8 million in November 2025, compared to a surplus of €201.3 million in the same month last year. The trade deficit deteriorated by €101 million, reflecting weaker exports alongside higher imports, with transport-related goods accounting for a €85.4 million rise in imports. Meanwhile, the surplus in secondary income narrowed by €118 million, driven by increased contributions from Portugal to the European Union, which rose by €144.8 million. The primary income deficit also widened by €51 million, largely due to higher property income attributable to non-residents.
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