Portugal's current account deficit increased to EUR 648.2 million in November of 2021, from EUR 139 million in the same month last year. It was the largest monthly current account shortfall since May, as the goods account deficit widened to EUR 1,816 million from EUR 755 million in November of 2020, with exports (16.5%) rising much slower than imports (32.6%), but both above pre-pandemic levels. Conversely, the services surplus rose to EUR 997 million, from EUR 511 million a year ago, boosted by higher travel and tourism revenues. At the same time, the primary income deficit shrank slightly to EUR 177 million from EUR 184 billion while the secondary income surplus went up to EUR 348 million from EUR 289 million a year ago, following the payment by Portugal of EUR 178 million to the European Union budget, less EUR 133 million than in November 2020. source: Banco de Portugal

Current Account in Portugal averaged -660.77 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 January of 2022.

Current Account in Portugal is expected to be 100.00 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, according to our econometric models.

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Portugal Current Account


Calendar GMT Actual Previous Consensus TEForecast
2021-12-22 11:30 AM Oct €279.05M €-61.75M €-140M
2022-01-19 11:30 AM Nov €-648.2M €279.05M €-35M
2022-02-21 11:30 AM Dec €-648.2M


Related Last Previous Unit Reference
Current Account -648.20 279.05 EUR Million Nov/21
Current Account to GDP -1.20 0.40 percent of GDP Dec/20
External Debt 414850.00 415928.00 EUR Million Sep/21
Foreign Direct Investment 1160.72 894.75 EUR Million Nov/21
Capital Flows -385.03 613.70 EUR Million Nov/21
Remittances 328.98 288.86 EUR Million Oct/21
Tourism Revenues 1246.51 1323.44 EUR Million Oct/21

News Stream
Portugal Posts Largest Current Account Gap in 6 Months
Portugal's current account deficit increased to EUR 648.2 million in November of 2021, from EUR 139 million in the same month last year. It was the largest monthly current account shortfall since May, as the goods account deficit widened to EUR 1,816 million from EUR 755 million in November of 2020, with exports (16.5%) rising much slower than imports (32.6%), but both above pre-pandemic levels. Conversely, the services surplus rose to EUR 997 million, from EUR 511 million a year ago, boosted by higher travel and tourism revenues. At the same time, the primary income deficit shrank slightly to EUR 177 million from EUR 184 billion while the secondary income surplus went up to EUR 348 million from EUR 289 million a year ago, following the payment by Portugal of EUR 178 million to the European Union budget, less EUR 133 million than in November 2020.
2022-01-19
Portugal October Current Account Surplus Narrows
Portugal's current account surplus narrowed to EUR 279.1 million in October of 2021, from EUR 466.5 million in the same month last year, as the goods account deficit widened to EUR 1,755.9 million from EUR 850.4 million in October of 2020. In contrast, the services surplus expanded to EUR 1,338.2 million, compared with EUR 761.5 million a year ago, boosted by higher tourism exports. Additionally, the primary income surplus widened to EUR 315.4 million from EUR 100.9 million last year and the secondary income surplus narrowed to EUR 381.4 million, from EUR 452.5 million.
2021-12-22
Portugal Current Account Gap Narrows in September
Portugal's current account deficit narrowed to EUR 61.8 million in September 2021, from EUR 185.0 million in the same month last year, as the services account surplus widened significantly to EUR 1,218.9 million from EUR 696.7 million, underpinned by tourism exports; and the secondary income surplus increased to EUR 583.3 million from EUR 328.2 million a year earlier. On the other hand, the goods account deficit widened to EUR 1,495.4 million from EUR 1,011.5 million and as did the primary income account deficit, deteriorating to EUR 368.6 million from EUR 198.4 million.
2021-11-19

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).