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Pricing

2022
Flag → Flag
Exports $92.4MRnk 57 / 208
2022
Flag → Flag
Top Product $11.8MOther Processed Vegetables
2022
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Exports $616MRnk 55 / 138
2022
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Top Product $260MRefined Petroleum
2022
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Economic Complexity (ECI) ECI 0.58Rnk 40 / 124
2022
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Economic Complexity (ECI) ECI 0.42Rnk 45 / 124
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$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
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GDP GROWTH1.45%CURRENT US$
Rnk 164 / 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$15,345CURRENT US$
Rnk 63 / 186
2012-2022
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GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

About

Portugal-Russia In 2022, Portugal exported $92.4M to Russia. The main products that Portugal exported to Russia are Other Processed Vegetables ($11.8M), Wine ($11.2M), and Agglomerated Cork ($10.2M). During the last 27 years the exports of Portugal to Russia have increased at an annualized rate of 1.09%, from $68.9M in 1995 to $92.4M in 2022.

In 2020, Portugal exported services to Russia worth $72M, with Travel ($72M) being the largest in terms of value.

Russia-Portugal In 2022, Russia exported $616M to Portugal. The main products that Russia exported to Portugal were Refined Petroleum ($260M), Petroleum Gas ($120M), and Non-fillet Frozen Fish ($43.5M). During the last 27 years the exports of Russia to Portugal have increased at an annualized rate of 3.65%, from $234M in 1995 to $616M in 2022.

In 2020, Russia exported services to Portugal worth $34.1M, with Transportation ($22.3M), Other business services ($5.42M), and Computer and information services ($3.62M) 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, Russia ranked 45 in the Economic Complexity Index (ECI 0.42), and 12 in total exports ($486B).

Latest Trends

January, 2024

About

Overview In January 2024, Portugal exported €6.9M and imported €8.21M from Russia, resulting in a negative trade balance of €1.31M. Between January 2023 and January 2024 the exports of Portugal have decreased by €-1.27M (-15.6%) from €8.17M to €6.9M, while imports decreased by €-7.08M (-46.3%) from €15.3M to €8.21M.

Trade In January 2024, the top exports of Portugal to Russia were Preparations of vegetables, fruit, nuts or... (€2.61M), Food residues & wastes; animal fodder (€1.72M), Beverages, spirits, & vinegar (€1.02M), Machinery, mechanical appliances, & parts (€916k), and Coffee, tea, mate & spices (€634k). In January 2024 the top imports of Portugal from Russia were Fish, crustaceans, & molluscs (€8.67M), Organic chemicals (€2.62M), Fertilizers (€1.69M), Inorganic chemicals (€1.21M), and Food residues & wastes; animal fodder (€861k).

Growth In January 2024, the decrease in Portugal's year-by-year exports to Russia was explained primarily by an decrease in product exports in Cork & cork articles (€-2.1M or -100%), Furniture, bedding, lamps, & prefab buildings (€-1.19M or -98.2%), and Animal originated products, n.e.s. (€-1.15M or -100%). In January 2024, the decrease in Portugal's year-by-year imports  from Russia was explained primarily by an decrease in product imports  in Mineral fuels, mineral oils and products... (€-83.2M or -100%), Wood, wood articles, & charcoal (€-3.4M or -100%), and Plastics & articles thereof (€-3M or -100%).

Latest Trade

Flow
Time Scale
Value
EXPORT GROWTH (January 2023 - January 2024)€-1.27M(-15.6%)
IMPORT GROWTH (January 2023 - January 2024)€-7.08M(-46.3%)

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 Russia and Portugal trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Portugal exported $92.4M to Russia. The main products exported from Portugal to Russia were Other Processed Vegetables ($11.8M), Wine ($11.2M), and Agglomerated Cork ($10.2M). During the last 27 years the exports of Portugal to Russia have increased at an annualized rate of 1.09%, from $68.9M in 1995 to $92.4M in 2022.

In 2022, Russia exported $616M to Portugal. The main products exported from Russia to Portugal were Refined Petroleum ($260M), Petroleum Gas ($120M), and Non-fillet Frozen Fish ($43.5M). During the last 27 years the exports of Russia to Portugal have increased at an annualized rate of 3.65%, from $234M in 1995 to $616M in 2022.

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

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

Market Competitiveness

Color
Portugal
Top DestinationSpain$20.5B
Russia
Top DestinationChina$101B

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

In 2021, countries that imported more from Portugal than Russia were Spain ($20.5B), Angola ($1.59B), and Gibraltar ($561M).

In 2021, countries that imported more from Russia than Portugal were China ($101B), India ($40.4B), and Turkey ($25.3B).

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

Comparative Advantage Portugal - Russia

Flow
Scale

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

During 2022, Portugal had a large net trade with Russia in the exports of Foodstuffs ($29M), Machines ($13.6M), and Wood Products ($13M).

During 2022, Russia had a large net trade with Portugal in the exports of Mineral Products ($380M), Chemical Products ($88.5M), and Animal Products ($74.5M).

Service Trade

Bilateral Service Trade

In 2020, Portugal exported services to Russia worth $72M, with Travel ($72M) being the largest in terms of value.

In 2020, Russia exported services to Portugal worth $34.1M, with Transportation ($22.3M), Other business services ($5.42M), and Computer and information services ($3.62M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Economic Complexity

Competitive Landscape

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

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

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