Portugal Balance of Trade

Last Release

Aug 31, 2025

Actual

-2,982.99

Units In

EUR Million

-3,293

Frequency

Monthly

Next Release

Nov 10, 2025

Time to Release

29 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-662.58 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 €2.98 billion in August 2025, up from €2.67 billion a year earlier, as exports fell 1.3% to a four-year low of €5.10 billion. The decline was driven mainly by fuels and lubricants (-25.6%), partially offset by transport equipment (+10.8%). By destination, exports dropped to Spain (-5.8%) and the Netherlands (-22.2%), largely due to fuel and lubricants, and to Germany (-9.9%), mainly machinery and other capital goods. Exports to the US, however, rose 36.5%, led by industrial supplies mostly linked to processing trade (work on order without transfer of ownership). Imports increased 3.1% to €8.08 billion, supported by purchases of industrial supplies (+19.4%) and transport equipment (+18.7%), while imports of fuels and lubricants fell (-28.5%). By origin, imports from Ireland surged 615.9%, largely industrial supplies linked to processing trade, while imports from Germany rose 22.2%, driven mainly by airplanes and passenger cars.