Portugal recorded a Current Account deficit of 661.14 EUR Million in April of 2022. source: Banco de Portugal

Current Account in Portugal averaged -657.82 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 June of 2022.

Current Account in Portugal is expected to be 360.00 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.

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Portugal Current Account

Calendar GMT Actual Previous Consensus TEForecast
2022-05-18 10:30 AM Mar €-411.6M €-630M €-750M
2022-06-21 10:30 AM Apr €-661.14M €-411.6M €-530M
2022-07-20 10:30 AM May

Related Last Previous Unit Reference
Current Account -661.14 -411.59 EUR Million Apr 2022
Current Account to GDP -1.20 0.40 percent of GDP Dec 2020
External Debt 407247.00 408401.00 EUR Million Mar 2022
Capital Flows -234.70 -862.66 EUR Million Mar 2022
Foreign Direct Investment -352.22 945.95 EUR Million Mar 2022
Remittances 268.11 306.94 EUR Million Mar 2022
Tourism Revenues 1176.00 831.23 EUR Million Mar 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
-661.14 -411.59 1655.06 -2674.13 1996 - 2022 EUR Million Monthly
Current Prices, NSA

News Stream
Portugal Current Account Swings to Deficit
Portugal posted a current account deficit of EUR 411.6 million in March of 2022, compared with a surplus of EUR 49.2 million in the corresponding month of the previous year. The goods deficit widened to EUR 1,992 million from EUR 913 million, the primary income shortfall rose slightly to EUR 203 million from EUR 199 million and the secondary income surplus shrank to EUR 636 million from EUR 668 million. Meanwhile, the services surplus rose to EUR 1,148 million from EUR 936 million, amid higher tourism revenues.
Portugal Current Account Switches to Deficit
Portugal posted a current account deficit of EUR 589.3 million in February of 2022, switching from a EUR 28.8 million surplus in the same month last year. The goods trade account registered its largest shortfall since 2009 at EUR 1,617.2 million, widening sharply from EUR 573.8 million in the same month of last year, as imports surged 37.2 percent and imports climbed a slower 20.2 percent. This more than offset a superavit in the services account of EUR 799.7 million, which expanded from EUR 329.2 million a year ago, as the travel and tourism exports soared 275.4 percent. At the same time, the primary income shortfall narrowed to EUR 80.2 million, roughly half of last year’s gap, on the back of higher returns from investments, while the secondary income surplus shrank to EUR 308.4 million from EUR 424.6 million a year ago, on lower European Union funds.
Portugal Current Account Gap Widens in January
Portugal's current account deficit widened to EUR 433.7 million in January of 2022, from EUR 242.0 million in the same month last year. The goods trade gap widened sharply to EUR 1,364.9 million from EUR 748.2 million in January of last year, as exports rose slower than imports. Conversely, the services surplus expanded to EUR 709.1 million, from EUR 485.7 million a year ago, as the surplus in the travel and tourism account almost doubled. At the same time, the primary income shortfall narrowed to EUR 144.0 million from EUR 202.9 billion deficit with the support of lower interest payments, while the secondary income surplus expanded to EUR 366.1 million from EUR 223,5 million a year ago, aided by the inflows of European Union funds.