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2022
Flag → Flag
Exports $15.1BRnk 1 / 208
2022
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Top Product $1.35BMotor vehicles; parts and accessories (8701 to 8705)
2022
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Exports $24.3BRnk 3 / 218
2022
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Top Product $2.63BElectricity
2022
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Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
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Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
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GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
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GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
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 GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
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GDP PC $24,275CURRENT US$
Rnk 46 / 186
2012-2022
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GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186
2022
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GDP PC$29,350CURRENT US$
Rnk 40 / 186
2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186

About

Portugal-Spain Trade: In 2022, Portugal exported $15.1B to Spain. The main products that Portugal exported to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.35B), Electricity ($752M), and Refined Petroleum ($641M). Over the past 5 years the exports of Portugal to Spain have increased at an annualized rate of 33.3%, from $3.6B in 2017 to $15.1B in 2022.

In 2020, Portugal exported services to Spain worth $3.15B, with Travel ($1.15B), Transportation ($1.11B), and Other business services ($690M) being the largest in terms of value.

Spain-Portugal Trade: In 2022, Spain exported $24.3B to Portugal. The main products that Spain exported to Portugal were Electricity ($2.63B), Refined Petroleum ($1.62B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.19B). Over the past 5 years the exports of Spain to Portugal have increased at an annualized rate of 26.6%,  from $7.47B in 2017 to $24.3B in 2022.

In 2020, Spain exported services to Portugal worth $350M, with Travel ($350M) being the largest in terms of value.

Comparison: In 2022,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Latest Trends

April, 2024

About

Overview In April 2024, Portugal exported €1.73B and imported €2.91B from Spain, resulting in a negative trade balance of €1.18B. Between April 2023 and April 2024 the exports of Portugal have increased by €236M (15.8%) from €1.49B to €1.73B, while imports increased by €127M (4.55%) from €2.79B to €2.91B.

Trade In April 2024, the top exports of Portugal to Spain were Cars, tractors, trucks & parts thereof. (€213M), Mineral fuels, mineral oils and products... (€152M), Machinery, mechanical appliances, & parts (€112M), Plastics & articles thereof (€111M), and Electrical machinery and electronics (€82.6M). In April 2024 the top imports of Portugal from Spain were Cars, tractors, trucks & parts thereof. (€284M), Mineral fuels, mineral oils and products... (€236M), Electrical machinery and electronics (€184M), Machinery, mechanical appliances, & parts (€149M), and Plastics & articles thereof (€138M).

Growth In April 2024, the increase in Portugal's year-by-year exports to Spain was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts (€52.2M or 87.1%), Mineral fuels, mineral oils and products... (€12.1M or 8.65%), and Sugars & confectioneries (€11.5M or 179%). In April 2024, the increase in Portugal's year-by-year imports  from Spain was explained primarily by an increase in product imports  in Cars, tractors, trucks & parts thereof. (€94.5M or 49.8%), Electrical machinery and electronics (€38.6M or 26.6%), and Organic chemicals (€28.4M or 137%).

Latest Trade

Flow
Time Scale
Value
EXPORT GROWTH (April 2023 - April 2024)€236M(15.8%)
IMPORT GROWTH (April 2023 - April 2024)€127M(4.55%)

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

To check Spain and Portugal trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Spain and Portugal Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Portugal exported $15.1B to Spain. The main products exported from Portugal to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.35B), Electricity ($752M), and Refined Petroleum ($641M). During the last 5 years the exports of Portugal to Spain have increased at an annualized rate of 33.3%, from $3.6B in 2017 to $15.1B in 2022.

In 2017, Spain exported $24.3B to Portugal. The main products exported from Spain to Portugal were Electricity ($2.63B), Refined Petroleum ($1.62B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.19B). During the last 22 years the exports of Spain to Portugal have increased at an annualized rate of 26.6%, from $7.47B in 1995 to $24.3B in 2017.

Exports from Portugal (Flag) to Spain (Flag) (2022)

Exports from Spain (Flag) to Portugal (Flag) (2022)

Market Competitiveness

Color
Portugal
Top DestinationSpain$20.5B
Spain
Top DestinationFrance$65.2B

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

In 2022, countries that imported more from Portugal than Spain included Angola ($1.59B), Cape Verde ($407M), and Mozambique ($262M).

In 2022, countries that imported more from Spain than Portugal included France ($65.2B), Germany ($39.2B), and Italy ($32.1B).

Difference in imports from Spain (Flag) and Portugal (Flag) (2022)

Comparative Advantage Portugal - Spain

Flow
Scale

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

During 2022, Portugal had a large net trade with Spain in the exports of Metals ($2.39B), Machines ($2.34B), and Transportation ($2.2B).

During 2017, Spain had a large net trade with Portugal in the exports of Mineral Products ($5B), Machines ($4.2B), and Metals ($4.2B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal Spain+$253MCars
Top Product Potential Spain Portugal+$278MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Portugal exported services to Spain worth $3.15B, with Travel ($1.15B), Transportation ($1.11B), and Other business services ($690M) being the largest in terms of value.

In 2020, Spain exported services to Portugal worth $350M, with Travel ($350M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Portugal (Flag) to Spain (Flag) (2020)

Services Exports from Spain (Flag) to Portugal (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Portugal and Spain. This means that a dot/product with the flag of Portugal indicates it has a comparative advantage over Spain. Similarly, a dot/product with the flag of Spain indicates it has a comparative advantage over Portugal.

Product Space of Portugal (Flag) and Spain (Flag) (2022)

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