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.