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

About

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.

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.

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

Company data: In 2023, leading companies such as IKEA Group (8.03k), Continental Tire (5.32k), and Home Depot (850) were at the forefront of exporting goods from Portugal to the United States. Conversely, Unknown (3.97k), Friul Intagli Industries Spa (2.33k), and Ikea Industry Portugal, Lda (2.2k) were notable for importing products to Portugal from the United States.

Latest Trends

November, 2024

About

Overview In November 2024, United States exported $337M and imported $469M from Portugal, resulting in a negative trade balance of $132M. Between November 2023 and November 2024 the exports of United States have increased by $172M (104%) from $165M to $337M, while imports increased by $51.5M (12.3%) from $418M to $469M.

Trade In November 2024, the top exports of United States to Portugal were Crude Petroleum ($84.7M), Petroleum Gas ($54M), Aircraft parts (gliders, balloons, and powered... ($12.4M), Commodities not elsewhere specified ($7.81M), and Ethylene Polymers ($6.47M). In November 2024 the top imports of United States from Portugal were Refined Petroleum ($114M), Rubber Tires ($24M), Unpackaged Medicaments ($23.6M), Packaged Medicaments ($18.2M), and Leather Footwear ($13.6M).

Origins In November 2024 the exports of United States were mainly from Texas ($107M), Louisiana ($79.2M), Illinois ($49.3M), New York ($25.1M), and Indiana ($8.97M), while imports destinations were mainly New Jersey ($101M), California ($52.2M), Pennsylvania ($38.5M), Texas ($37.1M), and Ohio ($33.4M).

Growth In November 2024, the increase in United States's year-by-year exports to Portugal was explained primarily by an increase in product exports in Petroleum Gas ($14.8M or 37.6%), Crude Petroleum ($13M or 18.2%), and Aircraft parts (gliders, balloons, and powered... ($5.09M or 69.7%). In November 2024, the increase in United States's year-by-year imports  from Portugal was explained primarily by an increase in product imports  in Refined Petroleum ($38.5M or 51%), Unpackaged Medicaments ($17M or 259%), and Pure Olive Oil ($6.91M or 511%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)$172M(104%)
IMPORT GROWTH (November 2023 - November 2024)$51.5M(12.3%)
MAIN EXPORTER (November 2024)Texas$107M

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

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

For full datasets download visit Bulk Download page.

Explore Portugal and United States Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, 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 2018 to $2.49B in 2023.

In 2018, 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 2023 to $6.41B in 2018.

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

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

Market Competitiveness

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

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

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

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

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

Comparative Advantage United States - Portugal

Flow
Scale

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

During 2023, United States had a large net trade with Portugal in the exports of Mineral Products ($1.37B), Machines ($233M), and Vegetable Products ($183M).

During 2018, Portugal had a large net trade with United States in the exports of Chemical Products ($1.57B), Mineral Products ($1.09B), and Machines ($810M).

Potential Exports

Potential Exports

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

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.

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.

Service trade data is presented based on availability.

Services Exports from United States (Flag) to Portugal (Flag) (2017)

Services Exports from Portugal (Flag) to United States (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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