Portugal (PRT) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Portugal-Italy In 2022, Portugal exported $3.61B to Italy. The main products that Portugal exported to Italy are Cars ($573M), Rolled Tobacco ($234M), and Pure Olive Oil ($150M). During the last 27 years the exports of Portugal to Italy have increased at an annualized rate of 5.36%, from $881M in 1995 to $3.61B in 2022.

In 2020, Portugal exported services to Italy worth $491M, with Travel ($210M), Transportation ($144M), and Other business services ($113M) being the largest in terms of value.

Italy-Portugal In 2022, Italy exported $5.98B to Portugal. The main products that Italy exported to Portugal were Refined Petroleum ($475M), Packaged Medicaments ($202M), and Broadcasting Equipment ($137M). During the last 27 years the exports of Italy to Portugal have increased at an annualized rate of 2.35%, from $3.2B in 1995 to $5.98B in 2022.

In 2020, Italy exported services to Portugal worth $258M, with Travel ($97M), Transportation ($52.5M), and Other business services ($52.5M) being the largest in terms of value.

Comparison In 2022, Portugal ranked 40 in the Economic Complexity Index (ECI 0.58), and 48 in total exports ($81.7B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.24), and 7 in total exports ($634B).

Latest Trends

January, 2024

About

Overview In January 2024, Portugal exported €301M and imported €387M from Italy, resulting in a negative trade balance of €86.3M. Between January 2023 and January 2024 the exports of Portugal have increased by €52.9M (21.3%) from €248M to €301M, while imports increased by €8.56M (2.26%) from €379M to €387M.

Trade In January 2024, the top exports of Portugal to Italy were Cars, tractors, trucks & parts thereof. (€31.8M), Tobacco & substitutes (€19.8M), Knitted clothing accesories (€17.9M), Electrical machinery and electronics (€17M), and Paper articles (€16.5M). In January 2024 the top imports of Portugal from Italy were Machinery, mechanical appliances, & parts (€57.5M), Electrical machinery and electronics (€29.1M), Pharmaceutical products (€27.3M), Cars, tractors, trucks & parts thereof. (€24.4M), and Plastics & articles thereof (€22.9M).

Growth In January 2024, the increase in Portugal's year-by-year exports to Italy was explained primarily by an increase in product exports in Pharmaceutical products (€3.94M or 85%), Tobacco & substitutes (€2.78M or 16.3%), and Machinery, mechanical appliances, & parts (€2.43M or 18.6%). In January 2024, the increase in Portugal's year-by-year imports from Italy was explained primarily by an increase in product imports in Pharmaceutical products (€18.4M or 208%), Machinery, mechanical appliances, & parts (€12.9M or 29.1%), and Electrical machinery and electronics (€5.68M or 24.3%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)€52.9M(21.3%)

IMPORT GROWTH (January 2023 - January 2024)€8.56M(2.26%)

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 Italy and Portugal 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, Portugal exported $3.61B to Italy. The main products exported from Portugal to Italy were Cars ($573M), Rolled Tobacco ($234M), and Pure Olive Oil ($150M). During the last 27 years the exports of Portugal to Italy have increased at an annualized rate of 5.36%, from $881M in 1995 to $3.61B in 2022.

In 2022, Italy exported $5.98B to Portugal. The main products exported from Italy to Portugal were Refined Petroleum ($475M), Packaged Medicaments ($202M), and Broadcasting Equipment ($137M). During the last 27 years the exports of Italy to Portugal have increased at an annualized rate of 2.35%, from $3.2B in 1995 to $5.98B in 2022.

Exports from Portugal () to Italy () (2022)

Exports from Italy () to Portugal () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Portugal
Top DestinationSpain$20.5B

Italy
Top DestinationGermany$78.5B

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

In 2021, countries that imported more from Portugal than Italy were Angola ($1.59B), Cape Verde ($407M), and Mozambique ($262M).

In 2021, countries that imported more from Italy than Portugal were Germany ($78.5B), United States ($68.2B), and France ($63.8B).

Difference in imports from Italy () and Portugal () (2022)

Comparative Advantage Portugal - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Portugal had a large net trade with Italy in the exports of Transportation ($748M), Textiles ($434M), and Machines ($403M).

During 2022, Italy had a large net trade with Portugal in the exports of Machines ($1.35B), Metals ($675M), and Textiles ($654M).

Service Trade

Bilateral Service Trade

Ita Year

Prt Year

In 2020, Portugal exported services to Italy worth $491M, with Travel ($210M), Transportation ($144M), and Other business services ($113M) being the largest in terms of value.

In 2020, Italy exported services to Portugal worth $258M, with Travel ($97M), Transportation ($52.5M), and Other business services ($52.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Portugal () to Italy () (2020)

Services Exports from Italy () to Portugal () (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 Portugal has comparative advantage over Italy. Similarly, the more yellow a dot/product is, the more Italy has comparative advantage over Portugal.

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Portugal () to Italy () (2022)

Exports from Italy () to Portugal () (2022)

Market Competitiveness

Difference in imports from Italy () and Portugal () (2022)

Comparative Advantage Portugal - Italy

Service Trade

Bilateral Service Trade

Services Exports from Portugal () to Italy () (2020)

Services Exports from Italy () to Portugal () (2020)

Economic Complexity

Competitive Landscape

Product Space of Portugal () and Italy () (2022)

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