The trade deficit in Portugal shrank to EUR 1.05 billion in August of 2020 from EUR 1.6 billion a year earlier. Exports dropped 1.4 percent to EUR 3.77 billion, the smallest decline in six months when the coronavirus hit the economy, and led by a 7.2 percent plunge in industrial supplies. Imports continued to fall at double digits for the sixth month, by 11.6 percent to EUR 4.82 billion, mainly due to transport material (-32.9 percent), namely airplanes.

Balance of Trade in Portugal averaged -556.72 EUR Million from 1950 until 2020, reaching an all time high of 3.55 EUR Million in May of 1955 and a record low of -2524.87 EUR Million in June of 2010. This page provides - Portugal Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

Balance of Trade in Portugal is expected to be -1460.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Portugal to stand at -600.00 in 12 months time. In the long-term, the Portugal Balance of Trade is projected to trend around -1440.00 EUR Million in 2021 and -1490.00 EUR Million in 2022, according to our econometric models.

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Portugal Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1047.94 -767.72 3.55 -2524.87 1950 - 2020 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-07-10 10:00 AM May €-908M €-1123M €-1700M
2020-08-07 10:00 AM Jun €-828M €-908M €-1200M
2020-09-09 10:00 AM Jul €-716M €-839M €-1600M
2020-10-09 10:00 AM Aug €-1048M €-768M €-1100M
2020-11-09 11:00 AM Sep €-1048M € -1830M
2020-12-10 11:00 AM Oct €-1270M


News Stream
Portugal Trade gap Shrinks in August on Lower Imports
The trade deficit in Portugal shrank to EUR 1.05 billion in August of 2020 from EUR 1.6 billion a year earlier. Exports dropped 1.4 percent to EUR 3.77 billion, the smallest decline in six months when the coronavirus hit the economy, and led by a 7.2 percent plunge in industrial supplies. Imports continued to fall at double digits for the sixth month, by 11.6 percent to EUR 4.82 billion, mainly due to transport material (-32.9 percent), namely airplanes.
2020-10-09
Portugal Trade Gap Lowest in 4 Years
The Portuguese trade deficit narrowed sharply to EUR 716 million in July of 2020 from EUR 1864 million a year earlier. It is the lowest trade gap since July of 2016 as the coronavirus pandemic continues to hurt both exports and imports. Exports went down 7.3 percent year-on-year to EUR 5 billion, marking the fifth straight decline. The biggest drops were seen in sales of fuels and lubricants (-59.5 percent) mainly to the US and industrial supplies (-37.5 percent). Imports sank 21.2 percent to EUR 5.72 billion, marking the sixth fall so far this year, amid lower purchases of transport equipment (-37.5 percent), mainly airplanes from France; and fuels and lubricants (-53 percent) mainly from Angola after main Portuguese refineries closed during the most critical months of the pandemic.
2020-09-09
Portugal Posts Smallest Trade Gap since 2016
Portugal's trade deficit shrank to EUR 827.8 million in June of 2020 from EUR 1876.9 million in the same month of the previous year. It was the smallest monthly trade shortfall since July of 2016, as imports slipped 23.1% from a year earlier to EUR 5095 million, amid reduced purchases of transport equipment (-49.4%), of which passenger vehicles (-53.7%) and auto parts (-27.4%); and fuels & lubricants (-65.5%), owing to the closure of the national refineries in the most critical months of the pandemic. Among key trading partners, imports fell from Spain (-10.3%), Germany (-16.9%), France (-55%), Italy (-20%), but rose from the Netherlands (4.7%) and China (20.5%), on the back of personal protective equipment such as masks. Exports fell at a slower 10.1% to EUR 4267 million, on lower shipments of industrial supplies (-13%) and passenger vehicles (-21.5%). Sales were down mostly to Spain (-7.3%), France (-5.9%), Germany (-10.2%), the UK (-13.4%), the US (-16%) and Italy (-18.4%).
2020-08-07
Portugal Trade Gap Narrows in May
Portugal's trade deficit narrowed to EUR 0.908 billion in May of 2020 from EUR 1.630 billion in the corresponding month of the previous year. Exports plummeted 39% from a year earlier to EUR 3.417 billion, mainly due to lower sales of transport equipment (-54%) and industrial supplies (-33.5%). Among key trading partners, exports were down to Spain (-41.2%), France (-32.5%), Germany (-33.5%), the UK (-45.6%), the US (-52.4%) and Italy (-40.7%). Imports fell at a faster 40.2% to EUR 4.325 billion, dragged down by lower purchases of transport equipment (-66.6%), fuels and lubricants (-78.7%) mostly due to the closure of the national refineries, and industrial supplies (-32.6%). Imports declined from Spain (-31.3%), Germany (-42.4%), France (-62.6%), Italy (-37.2%) and the Netherlands (-21.6%), but rose from China (5.1%) on the back of consumption goods, mostly originated in imports of individual protective equipment (mainly masks).
2020-07-10

Portugal Balance of Trade
In 2017, the Portuguese trade deficit widened sharply by 23.4 percent from the previous year to EUR 13.8 billion, the largest trade gap since 2011. Imports rose by 12.5 percent, the most since 2010, while exports increased at a slower 10.1 percent, the biggest gain since 2011. The largest trade deficits were recorded with Spain, Germany, Italy, the Netherlands, Russia and China, while the biggest trade surpluses were recorded with the United States, the United Kingdom and France.