Portugal's current account deficit widened sharply to EUR 1.56 billion in May 2019 from EUR 1.16 billion in the same month last year, as the goods deficit increased to EUR 1.28 billion from EUR 1.01 billion and the primary income gap rose to EUR 2.21 billion from EUR 2.05 billion. In addition, the services surplus narrowed to EUR 1.60 billion from EUR 1.69 billion a year earlier despite a slight gain in tourism revenues (EUR 1.63 billion from EUR 1.60 billion), while the secondary income surplus increased to EUR 0.32 billion from EUR 0.21 billion, even though migrants' remittances were little changed (EUR 0.28 billion from EUR 0.29 billion). Considering the first five months of the year, the current account deficit widened to EUR 3.15 billion from EUR 1.88 billion in the same period of 2018. Current Account in Portugal averaged -763.60 EUR Million from 1996 until 2019, reaching an all time high of 1105.17 EUR Million in July of 2016 and a record low of -2590.60 EUR Million in June of 2010.

Current Account in Portugal is expected to be 551.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Portugal to stand at -100.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -120.00 EUR Million in 2020, according to our econometric models.

Portugal Current Account
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-22 10:30 AM Current Account Feb €-667.4M €-740.8M €-250M
2019-05-21 10:30 AM Current Account Mar €-324.7M €-525.4M €-120M
2019-06-25 10:30 AM Current Account Apr €8.6M €-324.7M €-420M
2019-07-17 10:30 AM Current Account May €-1564M €8.6M €-970M
2019-08-21 10:30 AM Current Account Jun €-1564M €51M
2019-09-19 10:30 AM Current Account Jul €570M
2019-10-18 10:30 AM Current Account Aug €440M


Portugal Trade Last Previous Highest Lowest Unit
Balance of Trade -1833.26 -1615.46 3.55 -2524.87 EUR Million [+]
Current Account -1563.85 8.56 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 -1420.85 63.68 1857.05 -2366.47 EUR Million [+]
Foreign Direct Investment 430.87 1200.20 6288.10 -3307.52 EUR Million [+]
Remittances 281.67 357.30 515.40 153.66 EUR Million [+]
Tourism Revenues 1632.65 1425.05 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 Current Account

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). 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 - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1563.85 8.56 1105.17 -2590.60 1996 - 2019 EUR Million Monthly
Current Prices, NSA




Country Last Previous
Argentina -3849.43 Mar/19
Australia -2900.00 Mar/19
Brazil -2914.00 Jun/19
Canada -17347.00 Mar/19
China 570.00 Jun/19
Euro Area 23.09 Jun/19
France -755.00 Jun/19
Germany 20646.19 Jun/19
India -4600.00 Mar/19
Indonesia -8442.80 Jun/19
Italy 5046.60 Jun/19
Japan 1211.17 Jun/19
Mexico -5634.10 Mar/19
Netherlands 18079.00 Mar/19
Russia 12100.00 Jun/19
Saudi Arabia 11518.00 Mar/19
Singapore 21497.50 Jun/19
South Africa -142495.00 Mar/19
South Korea 6380.00 Jun/19
Spain 2701.00 May/19
Switzerland 17215.95 Mar/19
Turkey -548.00 Jun/19
United Kingdom -30045.00 Mar/19
United States -130400.00 Mar/19


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