Portugal Balance of Trade

Last Release

May 31, 2025

Actual

-3,217

Units In

EUR Million

-3,018.18

Frequency

Monthly

Next Release

Aug 08, 2025

Time to Release

27 Days 12 Hours

Highest	Lowest	Average	Date Range	Source
3.55 May 1955	-3,501.18 Aug 2022	-655.24 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 €3.217 billion in May 2025, up from €2.282 billion a year earlier, as imports surged 12.1% to €10.231 billion while exports rose just 2.5% to €7.014 billion. The increase in imports was driven mainly by industrial supplies (+31.3%), particularly chemical products from Ireland and the Netherlands. Excluding these, industrial supplies rose only 1.5%. Transport equipment imports also jumped (+26.3%), especially passenger cars. In contrast, fuel imports dropped sharply (-28.1%) due to lower crude oil prices (-27.7%), despite stable volumes. On the export side, capital goods (+13.7%) and transport equipment (+11.3%) led the growth, especially to Spain and Germany. However, fuel and lubricant exports fell (-31.6%), particularly to the US. Notably, exports to Spain and Germany rose 7.1% and 12.7% respectively, led by strong demand for capital goods and transport equipment.