Portugal Balança Comercial

Portugal’s trade deficit widened to €2.35 billion in June 2025 from €2.01 billion a year earlier, as imports rose 3.9% to €8.90 billion while exports slipped 0.1% to €6.55 billion. Import growth was driven by food products (+12.9%), mainly agricultural goods from Spain; transport equipment (+9.8%), largely passenger cars; and consumer goods (+8.7%). Industrial supplies fell 3.7%, mostly chemical products from Ireland tied to processing transactions without ownership transfer. Imports from Spain rose 5.5%, while those from Ireland plunged 73.1%. On the export side, fuels and lubricants dropped 28.3%, notably to Spain. Industrial supplies fell 10.8% (-4.8% excluding processing-related trade), mainly chemical products to the US. Offsetting some declines, transport equipment exports surged 19.9%, especially to Germany. Year-on-year, exports to the US sank 39.4%, while sales to Germany jumped 16.4%.