Portugal Balance Commerciale

Portugal's trade deficit widened to €2.909 billion in December 2024 from €2.434 billion in the same month last year, as exports fell while imports increased. Exports fell by 2.5% year-on-year to €5.648 billion, due to lower sales of industrial supplies (-13.1%), food and beverages (-1.2%) and fuels and lubricants (-21.2%). On the other hand, exports of transport equipment and parts climbed 13.5%. Among major trade partners, exports fell to the US (-45.7%), but rose to Spain (1.9%), France (3.8%), and Germany (13.7%). Meanwhile, imports increased by 4% year-on-year to €8.557 billion, mainly due to higher purchases of industrial supplies (0.1%), food and beverages (6.1%), consumer goods (9.1%) and fuels and lubricants (21.3%). Imports rose from Spain (4.4%) and France (3.7%), but fell from Germany (-3.4%) and the Netherlands (-1.8%). For the whole 2024, the deficit increased to €27.887 billion from €27.808, with exports rising 2.5% and imports up 1.9%.