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Pricing

2023
Flag → Flag
Exports $6.41BRnk 4 / 211
2023
Flag → Flag
Top Product $1.07BRefined Petroleum
2023
Flag → Flag
Exports $2.49BRnk 61 / 220
2023
Flag → Flag
Top Product $870MPetroleum Gas
2023
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
Flag  
GDP$289BCURRENT US$
Rnk 48 / 195
2013-2023
Flag
GDP GROWTH27.5%CURRENT US$
Rnk 119 / 195
2023
Flag
 GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
Flag
GDP GROWTH64.2%CURRENT US$
Rnk 44 / 195
2023
Flag
GDP PC $27,331CURRENT US$
Rnk 50 / 195
2013-2023
Flag
GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 195
2023
Flag
GDP PC$82,769CURRENT US$
Rnk 9 / 196
2013-2023
Flag
GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195

About

Portugal-United States Trade: In 2023, Portugal exported $6.41B to United States. The main products that Portugal exported to United States were Refined Petroleum ($1.07B), Unpackaged Medicaments ($1.07B), and Rubber Tires ($377M). Over the past 5 years the exports of Portugal to United States have increased at an annualized rate of 10.4%, from $3.91B in 2018 to $6.41B in 2023.

In 2020, Portugal exported services to United States worth $1.21B, with Transportation ($416M), Other business services ($378M), and Travel ($358M) being the largest in terms of value.

United States-Portugal Trade: In 2023, United States exported $2.49B to Portugal. The main products that United States exported to Portugal were Petroleum Gas ($870M), Crude Petroleum ($346M), and Soybeans ($153M). Over the past 5 years the exports of United States to Portugal have increased at an annualized rate of 8.05%,  from $1.69B in 2018 to $2.49B in 2023.

In 2017, United States exported services to Portugal worth $997M, with Travel ($439M), Transportation ($215M), and Financial services ($128M) being the largest in terms of value.

Comparison: In 2023,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 46 in total exports ($83B). That same year, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T).

Latest Trends

November, 2024

About

Overview In November 2024, Portugal exported €367M and imported €261M from United States, resulting in a positive trade balance of €107M. Between November 2023 and November 2024 the exports of Portugal have increased by €51.6M (16.4%) from €316M to €367M, while imports increased by €93.7M (56.1%) from €167M to €261M.

Trade In November 2024, the top exports of Portugal to United States were Mineral fuels, mineral oils and products... (€91.7M), Pharmaceutical products (€26.1M), Electrical machinery and electronics (€24.3M), Rubber & articles thereof (€17.2M), and Machinery, mechanical appliances, & parts (€17.1M). In November 2024 the top imports of Portugal from United States were Mineral fuels, mineral oils and products... (€189M), Oils seeds, oleaginous fruits, grains, straw... (€26.7M), Machinery, mechanical appliances, & parts (€10.1M), Plastics & articles thereof (€10M), and Electrical machinery and electronics (€6.99M).

Growth In November 2024, the increase in Portugal's year-by-year exports to United States was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... (€46.9M or 105%), Pharmaceutical products (€9.15M or 54.1%), and Organic chemicals (€7.38M or 103%). In November 2024, the increase in Portugal's year-by-year imports  from United States was explained primarily by an increase in product imports  in Plastics & articles thereof (€6.88M or 218%), Machinery, mechanical appliances, & parts (€5.68M or 128%), and Organic chemicals (€4.79M or 459%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)€51.6M(16.4%)
IMPORT GROWTH (November 2023 - November 2024)€93.7M(56.1%)

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 United States and Portugal trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore United States and Portugal Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Portugal exported $6.41B to United States. The main products exported from Portugal to United States were Refined Petroleum ($1.07B), Unpackaged Medicaments ($1.07B), and Rubber Tires ($377M). During the last 5 years the exports of Portugal to United States have increased at an annualized rate of 10.4%, from $3.91B in 2018 to $6.41B in 2023.

In 2018, United States exported $2.49B to Portugal. The main products exported from United States to Portugal were Petroleum Gas ($870M), Crude Petroleum ($346M), and Soybeans ($153M). During the last 5 years the exports of United States to Portugal have increased at an annualized rate of 8.05%, from $1.69B in 2023 to $2.49B in 2018.

Exports from Portugal (Flag) to United States (Flag) (2023)

Exports from United States (Flag) to Portugal (Flag) (2023)

Market Competitiveness

Color
Portugal
Top DestinationSpain$17.7B
United States
Top DestinationCanada$269B

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

In 2023, countries that imported more from Portugal than United States included Angola ($1.64B), Cape Verde ($536M), and Guinea-Bissau ($138M).

In 2023, countries that imported more from United States than Portugal included Canada ($269B), Mexico ($243B), and China ($154B).

Difference in imports from United States (Flag) and Portugal (Flag) (2023)

Comparative Advantage Portugal - United States

Flow
Scale

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

During 2023, Portugal had a large net trade with United States in the exports of Chemical Products ($1.57B), Mineral Products ($1.09B), and Machines ($810M).

During 2018, United States had a large net trade with Portugal in the exports of Mineral Products ($1.37B), Machines ($233M), and Vegetable Products ($183M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal United States+$165MRefined Petroleum
Top Product Potential United States Portugal+$309MCrude Petroleum

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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Economic Complexity

Competitive Landscape

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

Product Space of Portugal (Flag) and United States (Flag) (2023)

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