United States (USA) and Portugal (PRT) Trade

2022

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Exports $1.14BRnk 57 / 219

2022

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About

United States-Portugal Trade: In 2022, United States exported $1.14B to Portugal. The main products that United States exported to Portugal were Petroleum Gas ($1.78B), Crude Petroleum ($329M), and Soybeans ($141M). Over the past 5 years the exports of United States to Portugal have decreased at an annualized rate of 0.061%, from $1.14B in 2017 to $1.14B in 2022.

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 2022, Portugal exported $3.38B to United States. The main products that Portugal exported to United States were Refined Petroleum ($1.15B), Unpackaged Medicaments ($432M), and Rubber Tires ($361M). Over the past 5 years the exports of Portugal to United States have increased at an annualized rate of 23.7%, from $1.16B in 2017 to $3.38B in 2022.

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 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).

Company data: In 2023, leading companies such as IKEA Group (8.02k), Continental Tire (5.32k), and Home Depot (850) were at the forefront of exporting goods from Portugal to the United States. Conversely, FRIUL INTAGLI INDUSTRIES SPA (2.33k), IKEA INDUSTRY PORTUGAL, LDA (2.2k), and CONTINENTAL MABOR - INDUSTRIA DE PN (1.74k) were notable for importing products to Portugal from the United States.

Latest Trends

March, 2024

About

Overview In March 2024, United States exported $236M and imported $765M from Portugal, resulting in a negative trade balance of $529M. Between March 2023 and March 2024 the exports of United States have decreased by $-39.5M (-14.3%) from $276M to $236M, while imports decreased by $-52.3M (-6.4%) from $817M to $765M.

Trade In March 2024, the top exports of United States to Portugal were Crude Petroleum ($84.7M), Petroleum Gas ($54M), Aircraft Parts ($12.4M), Commodities not elsewhere specified ($7.81M), and Ethylene Polymers ($6.47M). In March 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 March 2024 the exports of United States were mainly from Texas ($100M), Florida ($23.9M), Connecticut ($15.5M), Indiana ($15.2M), and New York ($8.49M), while imports destinations were mainly Puerto Rico ($290M), New Jersey ($116M), California ($43M), Tennessee ($29.7M), and Ohio ($29.3M).

Growth In March 2024, the decrease in United States's year-by-year exports to Portugal was explained primarily by an decrease in product exports in Gas Turbines ($-10.6M or -97.5%), Surveying Equipment ($-1.45M or -98.9%), and Electrical Control Boards ($-1.18M or -89%). In March 2024, the decrease in United States's year-by-year imports from Portugal was explained primarily by an decrease in product imports in Packaged Medicaments ($-10.4M or -36.5%), Chemically Pure Sugars ($-5.11M or -57.2%), and Agglomerated Cork ($-3.61M or -60.3%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-39.5M(-14.3%)

IMPORT GROWTH (March 2023 - March 2024)$-52.3M(-6.4%)

MAIN EXPORTER (March 2024)Texas$100M

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.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United States exported $1.14B to Portugal. The main products exported from United States to Portugal were Petroleum Gas ($1.78B), Crude Petroleum ($329M), and Soybeans ($141M). During the last 5 years the exports of United States to Portugal have decreased at an annualized rate of 0.061%, from $1.14B in 2017 to $1.14B in 2022.

In 2017, Portugal exported $3.38B to United States. The main products exported from Portugal to United States were Refined Petroleum ($1.15B), Unpackaged Medicaments ($432M), and Rubber Tires ($361M). During the last 22 years the exports of Portugal to United States have increased at an annualized rate of 23.7%, from $1.16B in 1995 to $3.38B in 2017.

Exports from United States () to Portugal () (2022)

Exports from Portugal () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Portugal
Top DestinationSpain$20.5B

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 2022, countries that imported more from United States than Portugal included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Portugal than United States included Angola ($1.59B), Gibraltar ($561M), and Cape Verde ($407M).

Difference in imports from Portugal () and United States () (2022)

Comparative Advantage United States - Portugal

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United States had a large net trade with Portugal in the exports of Mineral Products ($2.17B), Machines ($223M), and Transportation ($192M).

During 2017, Portugal had a large net trade with United States in the exports of Mineral Products ($1.2B), Chemical Products ($785M), and Machines ($640M).

Service Trade

Bilateral Service Trade

Prt Year

Usa Year

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 () to Portugal () (2017)

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

Economic Complexity

Competitive Landscape

Year

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 () and Portugal () (2022)

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