Portugal (PRT) and Ireland (IRL) Trade | OEC - The Observatory of Economic Complexity

About

Portugal-Ireland In 2021, Portugal exported $505M to Ireland. The main products that Portugal exported to Ireland are Packaged Medicaments ($89.6M), Raw Iron Bars ($48M), and Cars ($28.5M). During the last 26 years the exports of Portugal to Ireland have increased at an annualized rate of 6.02%, from $110M in 1995 to $505M in 2021.

In 2020, Portugal exported services to Ireland worth $559M, with Other business services ($236M), Travel ($220M), and Transportation ($82.2M) being the largest in terms of value.

Ireland-Portugal In 2021, Ireland exported $976M to Portugal. The main products that Ireland exported to Portugal were Nitrogen Heterocyclic Compounds ($346M), Packaged Medicaments ($118M), and Scrap Iron ($77M). During the last 26 years the exports of Ireland to Portugal have increased at an annualized rate of 6.12%, from $208M in 1995 to $976M in 2021.

In 2020, Ireland exported services to Portugal worth $415M, with Other business services ($313M), Insurance services ($54.8M), and Transportation ($22.8M) being the largest in terms of value.

Comparison In 2021, Portugal ranked 43 in the Economic Complexity Index (ECI 0.56), and 46 in total exports ($75.6B). That same year, Ireland ranked 17 in the Economic Complexity Index (ECI 1.29), and 30 in total exports ($212B).

Latest Trends

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May, 2023

About

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Overview In May 2023, Portugal exported €45.8M and imported €75.6M from Ireland, resulting in a negative trade balance of €29.8M. Between May 2022 and May 2023 the exports of Portugal have decreased by €-33.9M (-42.6%) from €79.7M to €45.8M, while imports increased by €10.6M (16.3%) from €65M to €75.6M.

Trade In May 2023, the top exports of Portugal to Ireland were Aircraft and spacecraft (€15.3M), Pharmaceutical products (€9.83M), Iron & steel (€4.14M), Wood, wood articles, & charcoal (€2.15M), and Footwear (€1.77M). In May 2023 the top imports of Portugal from Ireland were Pharmaceutical products (€9.89M), Electrical machinery and electronics (€9.7M), Iron & steel (€8.73M), Organic chemicals (€6.22M), and Inorganic chemicals (€6.14M).

Growth In May 2023, the decrease in Portugal's year-by-year exports to Ireland was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. (€-7.8M or -99.4%), Iron & steel (€-2.24M or -35.2%), and Electrical machinery and electronics (€-960k or -57.4%). In May 2023, the increase in Portugal's year-by-year imports from Ireland was explained primarily by an increase in product imports in Inorganic chemicals (€6.13M or 128k%), Iron & steel (€5.68M or 186%), and Organic chemicals (€1.38M or 28.6%).

Latest Trade

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Flow

Time Scale

Value

EXPORT GROWTH (May 2022 - May 2023): €-33.9M, (-42.6%)

IMPORT GROWTH (May 2022 - May 2023): €10.6M, (16.3%)

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 Ireland and Portugal trade dynamics, check the bilateral page.

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2021, Portugal exported $505M to Ireland. The main products exported from Portugal to Ireland were Packaged Medicaments ($89.6M), Raw Iron Bars ($48M), and Cars ($28.5M). During the last 26 years the exports of Portugal to Ireland have increased at an annualized rate of 6.02%, from $110M in 1995 to $505M in 2021.

In 2021, Ireland exported $976M to Portugal. The main products exported from Ireland to Portugal were Nitrogen Heterocyclic Compounds ($346M), Packaged Medicaments ($118M), and Scrap Iron ($77M). During the last 26 years the exports of Ireland to Portugal have increased at an annualized rate of 6.12%, from $208M in 1995 to $976M in 2021.

Market Competitiveness

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Color

SectionYear

Portugal
Top Destination: Spain, $19.3B

Ireland
Top Destination: United States, $59.8B

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

In 2021, countries that imported more from Portugal than Ireland were Spain ($19.3B), Angola ($1.19B), and Morocco ($1.23B).

In 2021, countries that imported more from Ireland than Portugal were United States ($59.8B), United Kingdom ($19.7B), and Germany ($23.3B).

Comparative Advantage Portugal - Ireland

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Flow

Scale

Year

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

During 2021, Portugal had a large net trade with Ireland in the exports of Chemical Products ($135M), Metals ($105M), and Machines ($38.2M).

During 2021, Ireland had a large net trade with Portugal in the exports of Chemical Products ($590M), Machines ($150M), and Metals ($82.6M).

Service Trade

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Bilateral Service Trade

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Irl YearPrt Year

In 2020, Portugal exported services to Ireland worth $559M, with Other business services ($236M), Travel ($220M), and Transportation ($82.2M) being the largest in terms of value.

In 2020, Ireland exported services to Portugal worth $415M, with Other business services ($313M), Insurance services ($54.8M), and Transportation ($22.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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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 Portugal has comparative advantage over Ireland. Similarly, the more yellow a dot/product is, the more Ireland has comparative advantage over Portugal.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage Portugal - Ireland

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

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