Portugal Balança Comercial

Portugal's trade deficit narrowed to €1.698 billion in January 2025 from €1.757 billion in the same month last year, as exports rose more than imports. Exports jumped by 11.7% year-on-year to €7.079 billion, due to higher sales of chemical products (263.1%), machinery, mechanical appliances (4.7%), base metals (2.6%) and agricultural products (5.4%). Among major trade partners, exports rose to Spain (+2.6%) and Germany (91.2%), but fell to France (-5.4%), the US (13.4%) and the UK (-2.3%). Meanwhile, imports increased by 8.4% year-on-year to €8.778 billion, mainly due to higher purchases of machinery, mechanical appliances (3.8%), chemical products (52.3%), and agricultural products (5.2%). However, imports of vehicles and other transport equipments fell 0.6%. Imports rose from Spain (3%), Germany (4.8%), France (8.1%) and the Netherlands (20.1%).