Portugal is the 44th largest export economy in the world and the 48th most complex economy. Portugal exported $59.3B, making it the 44th largest exporter in the world. Portugal imported $78.3B, making it the 40th largest importer in the world. Importable items of the country are machinery and the transports commodities, chemicals, petroleum, textiles and the agricultural products. At present, Portugal is currently ranked as the 40th largest export economy in the world with annual exports worth $54.7 billion and imports of $67.1 billion, resulting in a negative trade balance of $12.4 billion.
Imports to Portugal dropped 4.1 percent from a year earlier to EUR 6.59 billion in June 2019, the first month of decline since May 2018, dragged by purchases of fuels and lubricants (-24.8 percent) and industrial supplies (-8.9 percent). On the other hand, transport equipment imports jumped 32.4 percent on the back of aircraft. Imports decreased from Spain (-4.4 percent), Germany (-7.3 percent), Italy (-2.7 percent) and the Netherlands (-13.1 percent), but rose from France (61.2 percent). Imports in Portugal averaged 1743.11 EUR Million from 1950 until 2019, reaching an all time high of 7232.95 EUR Million in May of 2019 and a record low of 0 EUR Million in May of 1955.
Imports in Portugal is expected to be 6250.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Portugal to stand at 6320.00 in 12 months time. In the long-term, the Portugal Imports is projected to trend around 6290.00 EUR Million in 2020.
Portugal imported mostly: machinery and mechanical appliances, electrical equipment (17 percent of total imports); vehicles, aircraft, vessels and associated transport equipment (14 percent); mineral products (12 percent); products of the chemical or allied industries (10 percent); base metals and articles of base metal (8 percent); plastics and rubber (6 percent); textiles and textile articles (6 percent); live animals, animal products (5 percent); prepared foodstuffs (5 percent); and vegetables (4 percent). Portugal’s main import partners were Spain (32 percent of total imports), Germany (14 percent), France (7 percent), Italy and the Netherlands (5 percent each), the UK and China (3 percent each) and Russia and Brazil (2 percent each).
Exports from Portugal fell for the first time in eight months by 8.3 percent year-on-year to EUR 4.75 billion in June 2019, due mainly to lower sales of fuels and lubricants (-34.3 percent), consumer goods (-10.5 percent) and industrial supplies (-6.2 percent). Among major trade partners, exports were down to Spain (-9.2 percent), France (-3.5 percent), Germany (-1.5 percent), the UK (-10.1 percent) and the US (-11.7 percent). Exports in Portugal averaged 1203.23 EUR Million from 1950 until 2019, reaching an all time high of 5617.49 EUR Million in May of 2019 and a record low of 1.69 EUR Million in January of 1950.
Exports in Portugal is expected to be 5070.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Portugal to stand at 5400.00 in 12 months time. In the long-term, the Portugal Exports is projected to trend around 4850.00 EUR Million in 2020
Portugal exported mostly: machinery and mechanical appliances, electrical equipment (15 percent of total exports); vehicles, aircraft, vessels and associated transport equipment (12 percent); textiles and textile articles (10 percent); mineral products (9 percent); base metals and articles of base metals (8 percent); plastics and rubber (8 percent); prepared foodstuffs (6 percent); products of the chemical or allied industries (5 percent); and pulp of wood or of other fibrous cellulosic material (5 percent). Portugal’s main export partners were Spain (25 percent of total exports), France (13 percent), Germany (11 percent), the United Kingdom (7 percent), the United States (5 percent), and Italy and the Netherlands (4 percent each).
