United Kingdom (GBR) and Portugal (PRT) Trade | The Observatory of Economic Complexity

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United Kingdom (GBR) and Portugal (PRT) Trade

2022

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Exports $1.5BRnk 40 / 224

2022

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About

United Kingdom-Portugal In 2022, United Kingdom exported $1.5B to Portugal. The main products that United Kingdom exported to Portugal are Cars ($154M), Gas Turbines ($110M), and Petroleum Gas ($98M). During the last 27 years the exports of United Kingdom to Portugal have decreased at an annualized rate of 1.63%, from $2.33B in 1995 to $1.5B in 2022.

In 2019, United Kingdom exported services to Portugal worth $1.37B, with Transportation ($693M), Travel ($315M), and Financial services ($186M) being the largest in terms of value.

Portugal-United Kingdom In 2022, Portugal exported $4.25B to United Kingdom. The main products that Portugal exported to United Kingdom were Cars ($524M), Refined Petroleum ($221M), and Uncoated Paper ($158M). During the last 27 years the exports of Portugal to United Kingdom have increased at an annualized rate of 1.68%, from $2.71B in 1995 to $4.25B in 2022.

In 2020, Portugal exported services to United Kingdom worth $2.93B, with Travel ($1.37B), Transportation ($836M), and Other business services ($600M) being the largest in terms of value.

Comparison In 2022, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.38), and 14 in total exports ($469B). That same year, Portugal ranked 40 in the Economic Complexity Index (ECI 0.58), and 48 in total exports ($81.7B).

Latest Trends

January, 2024

About

Overview In January 2024, United Kingdom exported £81M and imported £282M from Portugal, resulting in a negative trade balance of £201M. Between January 2023 and January 2024 the exports of United Kingdom have decreased by £-40.8M (-33.5%) from £122M to £81M, while imports increased by £18.4M (6.98%) from £263M to £282M.

Trade In January 2024, the top exports of United Kingdom to Portugal were Gas Turbines (£18.1M), Cars (£17.5M), Scrap Iron (£10.1M), Refined Petroleum (£5.07M), and Spark-Ignition Engines (£4.97M). In January 2024 the top imports of United Kingdom from Portugal were Cars (£68.1M), Uncoated Paper (£13.9M), Insulated Wire (£6.87M), Commodities not elsewhere specified (£5.49M), and Raw Iron Bars (£5.39M).

Origins In January 2024 the exports of United Kingdom were mainly from Dover Eurotunnel (£28.7M), Newhaven (£4.26M), East Midlands Airport (£3.91M), Portsmouth (£2.92M), and Liverpool (£2.86M), while imports destinations were mainly Liverpool (£38.4M), Eurotunnel (£33.7M), Medway (£25.9M), Grimsby (£25.6M), and London (£18.6M).

Growth In January 2024, the decrease in United Kingdom's year-by-year exports to Portugal was explained primarily by an decrease in product exports in Petroleum Gas (£-2.92M or -76.6%), Crustaceans (£-1.36M or -91.4%), and Cleaning Products (£-730k or -47.1%). In January 2024, the increase in United Kingdom's year-by-year imports from Portugal was explained primarily by an increase in product imports in Cars (£26.2M or 62.5%), Uncoated Paper (£6.71M or 93.5%), and Buses (£3.6M or 878%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)£-40.8M(-33.5%)

IMPORT GROWTH (January 2023 - January 2024)£18.4M(6.98%)

MAIN EXPORTER (January 2024)Dover Eurotunnel£28.7M

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Portugal and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United Kingdom exported $1.5B to Portugal. The main products exported from United Kingdom to Portugal were Cars ($154M), Gas Turbines ($110M), and Petroleum Gas ($98M). During the last 27 years the exports of United Kingdom to Portugal have decreased at an annualized rate of 1.63%, from $2.33B in 1995 to $1.5B in 2022.

In 2022, Portugal exported $4.25B to United Kingdom. The main products exported from Portugal to United Kingdom were Cars ($524M), Refined Petroleum ($221M), and Uncoated Paper ($158M). During the last 27 years the exports of Portugal to United Kingdom have increased at an annualized rate of 1.68%, from $2.71B in 1995 to $4.25B in 2022.

Exports from United Kingdom () to Portugal () (2022)

Exports from Portugal () to United Kingdom () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$61.8B

Portugal
Top DestinationSpain$20.5B

This map shows whether countries import more from United Kingdom or Portugal. Each country is colored based on the difference in imports they receive from United Kingdom and Portugal or the difference in the growth in imports.

In 2021, countries that imported more from United Kingdom than Portugal were United States ($61.8B), Netherlands ($41.9B), and China ($35.4B).

In 2021, countries that imported more from Portugal than United Kingdom were Spain ($20.5B), Angola ($1.59B), and Cape Verde ($407M).

Difference in imports from Portugal () and United Kingdom () (2022)

Comparative Advantage United Kingdom - Portugal

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between United Kingdom and Portugal by product, considering products traded by both, United Kingdom and Portugal.

During 2022, United Kingdom had a large net trade with Portugal in the exports of Machines ($291M), Metals ($247M), and Transportation ($224M).

During 2022, Portugal had a large net trade with United Kingdom in the exports of Transportation ($752M), Machines ($561M), and Textiles ($463M).

Service Trade

Bilateral Service Trade

Prt Year

Gbr Year

In 2019, United Kingdom exported services to Portugal worth $1.37B, with Transportation ($693M), Travel ($315M), and Financial services ($186M) being the largest in terms of value.

In 2020, Portugal exported services to United Kingdom worth $2.93B, with Travel ($1.37B), Transportation ($836M), and Other business services ($600M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Portugal () (2019)

Services Exports from Portugal () to United Kingdom () (2020)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more United Kingdom has comparative advantage over Portugal. Similarly, the more yellow a dot/product is, the more Portugal has comparative advantage over United Kingdom.

Product Space of United Kingdom () and Portugal () (2022)

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