Trade Trend

In 2023, Portugal's total export value is 83.85Billion USD, total import value is 113.42Billion USD, Deficit is -29.57Billion USD, and foreign trade dependency is 0.687. In 2023，Portugal's top export products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(4.52Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(4.34Billion USD), Motor vehicles; parts and accessories, of heading no. 8701 to 8705(3.63Billion USD), top export destinations are Spain(21.66Billion USD), France(10.91Billion USD), Germany(9.04Billion USD). In 2023, Portugal's top import products are Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(7.13Billion USD), Petroleum oils and oils obtained from bituminous minerals; crude(5.93Billion USD), Motor vehicles; parts and accessories, of heading no. 8701 to 8705(3.62Billion USD), top import origins are Spain(38.35Billion USD), Germany(13.06Billion USD), France(7.89Billion USD).

Comparing to 2022, Portugal's total export value increased 1.39Billion USD(1.68%) in 2023, this could result from its export increases of products such as Medicaments; (not goods of heading no. 3002, 3005 or 3006) of two or more constituents mixed together for therapeutic or prophylactic use not in measured doses or in forms or packings for retail sale(755.77Million USD or 117.22%), Motor vehicles; parts and accessories, of heading no. 8701 to 8705(388.59Million USD or 11.99%), Moulding boxes for metal foundry, moulding patterns, moulds for metals (excluding ingot moulds), metal carbides, glass, mineral materials, rubber or plastics(286.19Million USD or 54.47%) and export increases to countries/economics such as France(712.58Million USD or 6.99%), Morocco(386.98Million USD or 54.14%), United States(325.34Million USD or 6.10%). Comparing to 2022, Portugal's total import value decreased -1.66Billion USD(-1.44%) in 2023, this could result from its import decreases of products such as Petroleum gases and other gaseous hydrocarbons(-2.65Billion USD or -52.37%), Petroleum oils and oils obtained from bituminous minerals; crude(-1.82Billion USD or -23.53%), Electrical energy(-955.42Million USD or -42.42%), and its import decreases from countries/economies such as United States(-1.26Billion USD or -34.11%), Brazil(-829.29Million USD or -17.30%), Trinidad and Tobago(-674.69Million USD or -83.86%).

Cumulated to first 7 months of 2024, Portugal's total export value is 30.23Billion USD, total import value is 39.17Billion USD, and tradedeficit is -8.95Billion USD. Cumulated to first 7 months of 2024, Portugal's top export products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(1.96Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(1.80Billion USD), Motor vehicles; parts and accessories, of heading no. 8701 to 8705(1.32Billion USD), and top export destinations are Spain(7.24Billion USD), France(3.70Billion USD), Germany(3.35Billion USD). Cumulated to first 7 months of 2024, Portugal's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(1.96Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(1.80Billion USD), Motor vehicles; parts and accessories, of heading no. 8701 to 8705(1.32Billion USD), and top import origins areSpain(12.22Billion USD), Germany(4.49Billion USD), France(2.67Billion USD).