Portugal Balance of Trade

Portugal recorded a trade deficit of 572.46 EUR Million in March of 2013. Balance of Trade in Portugal is reported by the Instituto Nacional de Estatistica. Historically, from 1950 until 2013, Portugal Balance of Trade averaged -447.54 EUR Million reaching an all time high of 105.65 EUR Million in March of 1985 and a record low of -2407 EUR Million in June of 2010. Portugal major exports are: clothing and footwear, machinery, chemicals, cork and paper products, hides, tungsten and wine. Portugal imports mostly machinery and transport equipment, chemicals, petroleum, textiles and agricultural products. European Union is by far its largest trading partner accounting for about 72% of total trade. This page includes a chart with historical data for Portugal Balance of Trade.

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Portugal Balance of Trade
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Portugal Trade Deficit Narrows in March
INE | Nuno Fontes | nuno@tradingeconomics.com  |  5/10/2013 11:11:51 AM


In March 2013, exports decreased by 2.8 percent yoy and imports by 9.8 percent yoy (in February 2013 those figures were -2.6 percent and -6.1 percent, respectively). Exports of goods increased by 0.3 percent and imports decreased by 7.2 percent in the first quarter 2013, when compared with the first quarter 2012, which led to a € 1,074.8 million decrease in the deficit of the trade balance.

With regard to year-on-year growth rates, in March 2013, exports decreased by 2.8 percent when compared with March 2012, due to the evolution in Intra-EU trade (namely in vehicles and other transport equipment and machinery and mechanical appliances), since there was a growth in Extra-EU trade. Imports decreased by 9.8 percent vis-à-vis March 2012, mainly as a result of the decline in Intra-EU trade (namely in mineral fuels, vehicles and other transport equipment and machinery and mechanical appliances).

In terms of month-to-month growth rates, in March 2013, exports increased by 9.0 percent when compared with February 2013, due to both Intra-EU and Extra-EU trades, as a result of the increases registered in almost all groups of products, but especially in mineral fuels and machinery and mechanical appliances. Imports accounted for a 4.9 percent increase, mainly due to increase in Intra-EU trade (namely in chemical and agricultural products and in machinery and mechanical appliances).
 

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Portugal Trade Deficit Narrows Year-on-Year in February
In year-on-year terms, in February 2013, exports decreased by 2.6 percent and imports decreased by 6.4 percent. Exports of goods increased by 0.8 percent and imports decreased by 6.1 percent in the quarter ended in February when compared with the period December 2011 to February 2012, which led to a € 931 million decrease in the deficit of the trade balance. 2013-04-09

Portugal Trade Deficit Narrows in December From a Year Earlier
In December 2012 exports decreased by 3.2 percent year-on-year, due to the fall in Intra-EU trade (namely in transport equipment and mineral products). Imports decreased by 7.9 percent vis-à-vis the figures of December 2011, as a result of the decline in Intra-EU trade (mostly due to machinery, mechanical appliances and in vehicles). 2013-02-11

Portugal Trade Deficit Narrows in January
In January of 2013, Portugal posted a trade deficit of € 572 million. Year-on-year, exports increased by 5.6 percent, due to the rise in both Intra-EU trade and Extra-EU trade, namely in mineral fuels and chemical products. Imports decreased by 6.9 percent as a result of the decline in both markets, mostly due to mineral fuels. 2013-03-12




Balance of Trade | Notes

The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.






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