Portugal Balance of Trade

Last Release

Jul 31, 2025

Actual

-3,293

Units In

EUR Million

-2,348

Frequency

Monthly

Next Release

Oct 10, 2025

Time to Release

29 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-660.02 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 €3.293 billion in July 2025 from €2.12 billion a year earlier, as imports rose while exports fell sharply. Imports grew 2.8%, driven by industrial supplies (+8.1%), especially chemical products from Ireland, though excluding processing transactions they fell slightly (-0.8%). Transport equipment (+15.2%), notably German cars, and consumer goods (+9.3%), mainly from Spain, also rose. In contrast, fuel imports dropped 29.4% due to lower crude oil prices and volumes. Imports from Ireland surged 76.3% (or 9.4% excluding processing), while Spain grew 6.1%. Exports fell 11.3%, led by industrial supplies (-29.3%), especially chemicals to Germany and the US, though excluding processing these edged up 0.4%. Transport equipment exports rose 17.8%, cushioning the decline. Exports to Germany (-46.4%) and the US (-37.1%) plunged, largely in chemicals. For the May–July 2025 quarter, imports rose 6.6% while exports fell 3.4%.