Portugal's trade deficit widened to EUR 1.83 billion in June 2019 from EUR 1.68 billion in the same month last year. Exports fell for the first time in eight months by 8.3 percent, due mainly to lower sales of fuels and lubricants (-34.3 percent), consumer goods (-10.5 percent) and industrial supplies (-6.2 percent). Among major trade partners, exports were down to Spain (-9.2 percent), France (-3.5 percent), Germany (-1.5 percent), the UK (-10.1 percent) and the US (-11.7 percent). Meanwhile, imports dropped at a slower 4.1 percent, the first month of decline since May 2018, dragged by purchases of fuels and lubricants (-24.8 percent) and industrial supplies (-8.9 percent). On the other hand, transport equipment imports jumped 32.4 percent on the back of aircraft. Imports decreased from Spain (-4.4 percent), Germany (-7.3 percent), Italy (-2.7 percent) and the Netherlands (-13.1 percent), but rose from France (61.2 percent). Balance of Trade in Portugal averaged -542.19 EUR Million from 1950 until 2019, 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.

Balance of Trade in Portugal is expected to be -1180.00 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 -920.00 in 12 months time. In the long-term, the Portugal Balance of Trade is projected to trend around -1440.00 EUR Million in 2020, according to our econometric models.

Portugal Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-10 10:00 AM Balance of Trade Mar €-1895M €-1490M €-800M
2019-06-07 10:00 AM Balance of Trade Apr €-1802M €-1802M €-1050M
2019-07-10 10:00 AM Balance of Trade May €-1631M €-1839M €-1320M
2019-08-09 10:00 AM Balance of Trade Jun €-1833M €-1615M €-940M
2019-09-09 10:00 AM Balance of Trade Jul €-1833M €-1010M
2019-10-10 10:00 AM Balance of Trade Aug €-1220M
2019-11-08 11:00 AM Balance of Trade Sep € -1180M


Portugal Trade Last Previous Highest Lowest Unit
Balance of Trade -1833.26 -1615.46 3.55 -2524.87 EUR Million [+]
Current Account -99.12 -1564.57 1105.17 -2590.60 EUR Million [+]
Current Account to GDP -0.60 0.50 3.10 -14.70 percent [+]
Imports 6586.95 7232.95 7232.95 0.00 EUR Million [+]
Exports 4753.68 5617.49 5617.49 1.69 EUR Million [+]
External Debt 414409.79 412765.99 421132.40 56392.07 EUR Million [+]
Capital Flows -80.71 -1188.11 1857.05 -2366.47 EUR Million [+]
Foreign Direct Investment 488.33 430.87 6288.10 -3307.52 EUR Million [+]
Remittances 309.49 281.67 515.40 153.66 EUR Million [+]
Tourism Revenues 1558.61 1632.65 2196.02 199.98 EUR Million [+]
Gold Reserves 382.50 382.50 606.76 382.48 Tonnes [+]
Terrorism Index 0.00 0.00 1.85 0.00 [+]
Tourist Arrivals 4985372.00 4874830.00 5997806.00 88000.00 [+]
Weapons Sales 3.00 56.00 172.00 0.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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. This page provides - Portugal Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Balance of Trade - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1833.26 -1615.46 3.55 -2524.87 1950 - 2019 EUR Million Monthly




Country Last Previous
Argentina 951.00 Jul/19
Australia 8036.00 Jun/19
Brazil 2290.00 Jul/19
Canada 135.80 Jun/19
China 450.50 Jul/19
Euro Area 20611.70 Jun/19
France -5187.00 Jun/19
Germany 16821.00 Jun/19
India -13430.00 Jul/19
Indonesia -60.00 Jul/19
Italy 5728.50 Jun/19
Japan -249.59 Jul/19
Mexico 2561.00 Jun/19
Netherlands 5158.00 Jun/19
Russia 12508.00 Jun/19
Saudi Arabia 131636.00 Mar/19
Singapore 2831.10 Jul/19
South Africa 4419.50 Jun/19
South Korea 2441.00 Jul/19
Spain -1532700.00 Jun/19
Switzerland 2671.16 Jul/19
Turkey -3177.27 Jun/19
United Kingdom 1779.00 Jun/19
United States -55154.00 Jun/19


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