Portugal posted a current account deficit of EUR 462.4 million in December of 2020 compared with a surplus of EUR 24.1 million in the same month of the previous year. It was the largest current account gap since last May, as the primary income deficit rose to EUR 257.8 million from EUR 132.2 million in December of 2019 and the services surplus fell to EUR 557.8 million from EUR 1260.2 million, amid a sharp decline in tourism revenues (EUR 519.6 million from EUR 1060.7 million). At the same time, the trade deficit narrowed to EUR 1230.9 million from EUR 1305.1 million and the secondary income surplus fell to EUR 468.4 million from EUR 593 million, partly attributed to the evolution of the current transfers, namely due to an increase of EU budget contributions, as well as a decrease in workers' remittances. In 2020, the country's current account shifted to a deficit of EUR 2377 million compared to a surplus of EUR 821 million a year earlier. source: Banco de Portugal

Current Account in Portugal averaged -678.92 EUR Million from 1996 until 2020, reaching an all time high of 1655.06 EUR Million in August of 2017 and a record low of -2674.13 EUR Million in June of 2010. 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 - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.

Current Account in Portugal is expected to be -200.00 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 -220.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -100.00 EUR Million in 2022, according to our econometric models.

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Portugal Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-462.44 -172.39 1655.06 -2674.13 1996 - 2020 EUR Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-18 11:25 AM Sep €-111M €782.3M €190M
2020-12-22 11:20 AM Oct €421.5M €-111M €-280M
2021-01-20 11:30 AM Nov €-102.9M €421.5M €-220M
2021-02-17 11:30 AM Dec €-462.4M €-172.4M €-270M
2021-03-18 11:30 AM Jan €-462.4M
2021-04-21 10:30 AM Feb
2021-05-20 10:30 AM Mar
2021-06-22 10:00 AM Apr


News Stream
Portugal Current Account Swings to Gap in December
Portugal posted a current account deficit of EUR 462.4 million in December of 2020 compared with a surplus of EUR 24.1 million in the same month of the previous year. It was the largest current account gap since last May, as the primary income deficit rose to EUR 257.8 million from EUR 132.2 million in December of 2019 and the services surplus fell to EUR 557.8 million from EUR 1260.2 million, amid a sharp decline in tourism revenues (EUR 519.6 million from EUR 1060.7 million). At the same time, the trade deficit narrowed to EUR 1230.9 million from EUR 1305.1 million and the secondary income surplus fell to EUR 468.4 million from EUR 593 million, partly attributed to the evolution of the current transfers, namely due to an increase of EU budget contributions, as well as a decrease in workers' remittances. In 2020, the country's current account shifted to a deficit of EUR 2377 million compared to a surplus of EUR 821 million a year earlier.
2021-02-17
Portugal Current Account Deficit Widens in November
Portugal's current account deficit widened to EUR 102.9 million in November 2020, from EUR 57.9 million in the same month last year, as the primary income gap increased to EUR 157.0 million from EUR 132.2 million, while the secondary income surplus declined to EUR 222.6 million from EUR 386.0 million. In addition, the services surplus shrank to EUR 549.9 million from EUR 861.9 million a year earlier, with tourism revenues falling to EUR 447.7 million from EUR 993.8 million. The goods deficit, however, was down to EUR 718.4 million from EUR 1,173.6 million a year ago. Considering January-November, the current account posted a EUR 1,926 million deficit, compared with a EUR 97 million surplus in the same period of 2019.
2021-01-20
Portugal Current Account Surplus Rises in October
Portugal's current account surplus widened to EUR 421.54 million in October of 2020 from EUR 146.88 million in the corresponding month of the previous year. The secondary income surplus rose to EUR 405.78 million from EUR 340.23 million in October 2019 and the primary income account recorded a EUR 124.5 million surplus, compared to EUR 108.95 million deficit. Also, the goods gap narrowed to EUR 844.81 million from EUR 1502.24 million. Meantime, the services surplus fell to EUR 736.06 million from EUR 1417.85 million, led by a sharp decline in tourism revenues (EUR 690.13 million from EUR 1560.52 million).
2020-12-22
Portugal Current Account Swings to Deficit in September
Portugal posted a current account deficit of EUR 111 million in September of 2020, compared to a EUR 1.2 million surplus in the corresponding month of the previous year, as the good and services account registered a EUR 196.4 million gap, compared to a EUR 350.3 million surplus. Meantime, the primary income shortfall narrowed to EUR 244.9 million from EUR 755.7 million and the secondary income surplus fell to EUR 330.2 million from EUR 406.5 million.
2020-11-18

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).