[1] Primary trade source
OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.
Country intelligence · PRT · 2024
Portugal trade profile
In 2024, Portugal recorded $82.6B in merchandise exports and $111.4B in imports, producing a $28.7B trade deficit. Exports changed +0.2% from the previous year, while imports changed +0.1%.[1]
Exports
$82.6B
+0.2%
Imports
$111.4B
+0.1%
Trade balance
-$28.7B
deficit
Active partners
270
108 FTA-linked
Historical evidence
Ten-year trade movement
The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
ExportsImports
Exact annual values
Leading export sectors
HS2 chapters rank broad product groups by observed export value in 2024.
1$10.3B
HS 87 · Vehicles
87 active HS6 lines · 168 export partners
2$8.4B
HS 85 · Electrical machinery
262 active HS6 lines · 177 export partners
3$5.3B
HS 84 · Machinery
515 active HS6 lines · 181 export partners
4$4.5B
HS 27 · Mineral fuels and oils
43 active HS6 lines · 160 export partners
5$3.8B
HS 30 · Pharmaceutical products
42 active HS6 lines · 166 export partners
6$3.5B
HS 39 · HS chapter
129 active HS6 lines · 172 export partners
7$2.6B
HS 61 · HS chapter
106 active HS6 lines · 166 export partners
8$2.5B
HS 48 · HS chapter
101 active HS6 lines · 169 export partners
Leading export markets
Destinations rank bilateral export flows from Portugal; growth describes each corridor rather than the whole economy.
1$19.8B
Spain
Annual change -1.3% · 3-year CAGR 1.0%
2$9.6B
Germany
Annual change +11.4% · 3-year CAGR 5.7%
3$8.8B
France
Annual change -7.7% · 3-year CAGR 0.3%
4$6.2B
United States
Annual change +1.5% · 3-year CAGR 10.9%
5$4.2B
United Kingdom
Annual change -2.1% · 3-year CAGR 4.5%
6$3.8B
Italy
Annual change +5.5% · 3-year CAGR 6.2%
7$2.6B
Netherlands
Annual change -1.4% · 3-year CAGR -1.8%
8$2.2B
China
Annual change +6.0% · 3-year CAGR -1.1%
Sources, definitions and limitations
Calculation notes
USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.