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.