Portugal Balance of Trade

Last Release

Apr 30, 2025

Actual

-3,018.18

Units In

EUR Million

-2,442

Frequency

Monthly

Next Release

Jul 10, 2025

Time to Release

29 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-652.4 EUR Million	1950-2025	Statistics Portugal

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.

Latest Updates

Portugal’s trade deficit widened to €3.02 billion in April 2025, up from €2.40 billion a year earlier, marking the third largest gap on record. Exports declined by 5.7% to €6.47 billion, with broad-based decreases led by a sharp 32.9% drop in fuel and lubricant exports. Among major trading partners, notable declines were recorded in exports to Spain (-3.1%), mainly due to lower industrial supplies; the Netherlands (-15.6%), driven by steep falls in fuels, lubricants, and industrial supplies; and Italy (-9.5%), largely reflecting a plunge in transport equipment. Meanwhile, imports rose 2.4% to €9.49 billion. A standout contributor was Ireland, where imports surged by 792.2%, primarily due to industrial supplies—especially chemical products—linked largely to contract manufacturing transactions that do not involve a transfer of ownership. Considering January to April, the trade deficit increased to €9.27 billion, compared with €8.36 billion in the same period of 2024.