Portugal's trade deficit narrowed to EUR 1.59 billion in March 2020 from EUR 1.74 billion in the same month last year. Exports tumbled 13 percent to a six-month low mainly due to lower sales of passenger vehicles (-46.4 percent), industrial supplies (-8.1 percent) and consumer goods (-13.1 percent). Among major trade partners, exports were down to Spain, France, Germany, the UK and Italy, but were up to the US. Meanwhile, imports plunged 11.9 percent, led by lower purchases of transport equipment (-38.4 percent) in particular aircraft, machinery and other capital goods (-13.7 percent), industrial supplies (-4.2 percent) and consumer goods (-7.5 percent). Imports were down from Spain, Germany, France, Italy, the Netherlands, and China among others.

Balance of Trade in Portugal averaged -554.45 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 June of 2020.

Balance of Trade in Portugal is expected to be -1720.00 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 -1600.00 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 -1530.00 EUR Million in 2022, according to our econometric models.

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Portugal Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1585.92 -1558.70 3.55 -2524.87 1950 - 2020 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-07 11:00 AM Dec €-1425M €-1728M €-1400M
2020-03-11 11:00 AM Jan €-1539M €-1448M €-1900M
2020-04-09 10:00 AM Feb €-1547M €-1513M €-1600M
2020-05-08 10:00 AM Mar €-1586M €-1559M €-1580M
2020-06-09 10:00 AM Apr €-1586M €-2000M
2020-07-10 10:00 AM May €-1700M
2020-08-10 10:00 AM Jun € -1720M
2020-09-09 10:00 AM Jul €-1600M


News Stream
Portugal Trade Gap Narrows as Exports, Imports Fall
Portugal's trade deficit narrowed to EUR 1.59 billion in March 2020 from EUR 1.74 billion in the same month last year. Exports tumbled 13 percent to a six-month low mainly due to lower sales of passenger vehicles (-46.4 percent), industrial supplies (-8.1 percent) and consumer goods (-13.1 percent). Among major trade partners, exports were down to Spain, France, Germany, the UK and Italy, but were up to the US. Meanwhile, imports plunged 11.9 percent, led by lower purchases of transport equipment (-38.4 percent) in particular aircraft, machinery and other capital goods (-13.7 percent), industrial supplies (-4.2 percent) and consumer goods (-7.5 percent). Imports were down from Spain, Germany, France, Italy, the Netherlands, and China among others.
2020-05-08
Portugal Trade Deficit Widens in February
The trade gap in Portugal widened to EUR 1,547 million in February 2020 from EUR 1,378 million in the same month of the previous year. Imports rose 3.4 percent to EUR 6,456 million, boosted by higher purchases of transport equipment, part & accessories (17.5 percent); food & beverages (6.3 percent); consumer goods not elsewhere specified (6.3 percent); and fuel & lubricants (1.5 percent). Imports increased mainly from Spain (1.3 percent); France (28.3 percent) and Belgium (23.2 percent). Exports went up 0.9 percent to EUR 4,909 million, driven by higher sales of fuels & lubricants (44.2 percent); capital goods (5.2 percent); and transport equipment (3.6 percent). Among major trading partners, exports advanced to Spain (5.8 percent); France (8.2 percent) and Italy (1.8 percent).
2020-04-09
Portugal Trade Deficit Shrinks in January
The trade gap in Portugal narrowed to EUR 1,539 million in January 2020 from EUR 1,878 million in the corresponding month of the previous year. Exports rose 4.2 percent to EUR 5,189 million, boosted by sales of capital goods, parts & accessories (14.2 percent); fuels & lubricants (50.3 percent) and food & beverages (5.5 percent). Among major trading partners, exports rose to Spain (6.9 percent); France (8.4 percent) and the US (30.8 percent), while those to Germany (-8.1 percent) and the UK (-6.1 percent) declined. Also, imports fell 1.9 percent to EUR 6,719 million, dragged by lower purchases of industrial supplies nes (-4.4 percent) and transport equipment, part & accessories (-17.1 percent). Imports declined mainly from Germany (-1.6 percent); France (-39.3 percent) and Italy (-0.1 percent).
2020-03-11
Portugal Posts Smallest Trade Gap in 10 Months
The trade deficit in Portugal shrank to EUR 1425 million in December of 2019 from EUR 1590 million a year earlier. This was the smallest monthly trade deficit since February, as exports rose 5.4 percent to EUR 4585 million, boosted by sales of fuels & lubricants (38.5 percent), mostly in terms of processed goods (37.7%) and machinery & equipment (6.4%). In contrast, shipments fell sharply for vehicles (-26.2%), as a result of a significant amount of exports in December 2018, after the removal of the constraints in the port of Setúbal. Imports went up only 1.2 percent to EUR 6010 million, as higher purchases of industrial supplies (1.1%); machinery & equipment (0.5%) and fuels & lubricants (3.5%) were partly offset by a slump in those of transport equipment, accessories & parts (-7.6%). In 2019, the country's trade gap rose to EUR 20.4 billion, the highest since 2010, from EUR 17.6 billion a year ago, as imports and exports grew 6.6 percent and 3.6 percent, respectively.
2020-02-07

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.