Portugal Balance of Trade

Portugal recorded a trade deficit of 794.18 EUR Million in February of 2014. Balance of Trade in Portugal is reported by the Statistics Portugal. Balance of Trade in Portugal averaged -433.51 EUR Million from 1950 until 2014, reaching an all time high of 3.55 EUR Million in May of 1955 and a record low of -2348.24 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 provides - Portugal Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-794.18 -956.30 3.55 -2348.24 -909.87 | 2014/03 1950 - 2014 EUR Million Monthly

TO

Portugal Balance of Trade
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-09 11:00 AM Portugal
Balance of Trade
Nov 2013 €-593M €-1097M (R) € -1034M
2014-02-10 11:00 AM Portugal
Balance of Trade
Dec 2013 € -923M € -559M (R) € -989M
2014-03-12 11:00 AM Portugal
Balance of Trade
Jan 2014 € -926M € -889M (R) € -971.9M
2014-04-09 11:00 AM Portugal
Balance of Trade
Feb 2014 € -795M € -956M (R) € -822.8M
2014-05-09 11:00 AM Portugal
Balance of Trade
Mar 2014 -909.87
2014-06-09 11:00 AM Portugal
Balance of Trade
Apr 2014 -885.03
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Trade Last Previous Highest Lowest Forecast Unit
External Debt 369637.00 2013-12-31 370050.00 405641.00 212478.00 372778.88 2014-03-31 EUR Million [+]
Foreign Direct Investment 943.86 2014-02-15 -47.24 6254.66 -3455.59 646.60 2014-03-31 EUR Million [+]
Remittances 222.94 2014-02-15 219.44 515.40 153.66 247.19 2014-03-31 EUR Million [+]
Current Account to GDP -3.00 2012-12-31 -7.20 3.10 -14.70 -1.32 2013-12-31 Percent [+]
Current Account -279.25 2014-02-15 -185.27 782.88 -2617.36 -122.61 2014-03-31 EUR Million [+]
Balance of Trade -794.18 2014-02-15 -956.30 3.55 -2348.24 -909.87 2014-03-31 EUR Million [+]
Exports 3850.41 2014-02-15 3955.15 4372.62 1.69 4110.40 2014-03-31 EUR Million [+]
Imports 4644.59 2014-02-15 4911.45 5744.00 0.00 4910.24 2014-03-31 EUR Million [+]
[+]


Portuguese Trade Deficit Widens in February Over a Year Earlier

The trade deficit increased to EUR 795.0 million in February of 2014, from EUR 744.4 million a year earlier, as exports increased by 4.7 percent and imports rose by 5.0 percent. Compared with January of 2014, the gap decreased from a revised EUR 956.0 million.

In February of 2014, exports increased to EUR 3.9 billion from EUR 3.7 billion registered a year earlier, reflecting mostly the evolution of Intra-EU trade (spread to almost all groups of products, but mainly in vehicles and other transport equipment, plastic and rubber products, and clothing).

Imports increased to EUR 4.6 billion, from EUR 4.4 billion in February of 2013, due to higher Intra-EU trade since Extra-EU trade declined. Purchases increased mostly in vehicles and other transport equipment, mineral fuels and machinery, and mechanical appliances.

On a month-to-month basis, exports decreased by 2.6 percent. Imports decreased by 5.4 percent, as a result of the decline in Extra-EU trade (mostly due to mineral fuels), since Intra-EU imports increased. 

Reductions in exports and imports in February, were partly due to the planned stop of the Sines refinery for maintenance purposes during the month of March.

INE | Isabel Felino | isabel.felino@tradingeconomics.com
4/9/2014 11:59:31 AM

RECENT RELEASES

Portugal Trade Deficit Widens in January on Rising Imports
Portuguese trade deficit widened to € 925 million in January of 2014, from a revised € 888 million deficit in December and a € 599 million gap a year earlier. Imports from countries outside the EU surged as bad weather conditions in December affected the normal working schedule of the port terminals. Published on 2014-03-12

Portugal Posts the Lowest Trade Deficit in 17 Years
In 2013, Portugal’s trade deficit shrank 15 percent over the previous year to € 9.28 billion, the lowest deficit since 1996. The coverage rate reached 83.6 percent, corresponding to a 3.0 p.p. increase over a year earlier. Published on 2014-02-10


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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