Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes in Portugal

EXPORTS (2018): $3.28B, World Rnk 62 / 206
Flag Rnk 5 / 96

TOP DESTINATION (2018): $882M, United States

FASTEST GROWING MARKET (2017 - 2018): $146M, Spain

IMPORTS (2018): $9.58B, World Rnk 41 / 221
Flag Rnk 2 / 96

TOP ORIGIN (2018): $1.72B, Spain

FASTEST GROWING ORIGIN (2017 - 2018): $840M, Angola

ECONOMIC COMPLEXITY of Portugal (2018): 0.46, Rnk 48 / 137

PRODUCT COMPLEXITY  IN Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (2018): -2.52, Rnk 96 / 96

Overview: This page contains the latest trade data of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes in Portugal.

Exports: In 2018, Portugal exported $3.28B in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes, making it the 62nd largest exporter of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes in the world. At the same year, Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes was the 5th most exported product in Portugal. The main destination of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes exports from Portugal are: United States ($882M), Spain ($801M), Netherlands ($353M), Morocco ($213M), and Gibraltar ($162M).

The fastest growing export markets for Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes of Portugal between 2017 and 2018 were Spain ($146M), Tunisia ($133M), and United States ($115M).

Imports: In 2018, Portugal imported $9.58B in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes, becoming the 41st largest importer of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes in the world. At the same year, Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes was the 2nd most imported product in Portugal. Portugal imports Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes primarily from: Spain ($1.72B), Angola ($1.1B), Russia ($848M), Saudi Arabia ($665M), and Azerbaijan ($581M).

The fastest growing import markets in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes for Portugal between 2017 and 2018 were Angola ($840M), Nigeria ($450M), and Spain ($242M).

Tariffs: In 2017, the average tariff for Portugal in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes was 0.5%. The countries with the highest import tariffs for Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were Western Sahara (1.7%), Gabon (1.7%), Libya (1.7%), Mayotte (1.7%), and Reunion (1.7%).

Overview: In July 2020 Portugal's Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes exports accounted up to €1.15B and imports accounted up to €21.5B, resulting in a negative trade balance of €20.4B. Between July 2019 and July 2020 the exports of Portugal's   Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes have decreased by €-432M (-27.3%) from €1.58B to €1.15B, while imports increased by €4.27B (24.7%) from €17.3B to €21.5B.

Destinations: In July 2020 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes exported mostly to Singapore (€195M), Philippines (€155M), Japan (€95.8M), Panama (€94.8M), and Malaysia (€73.1M), and imported mostly from Russia (€2.57B), Australia (€1.94B), Iraq (€1.55B), Saudi Arabia (€1.48B), and United States (€1.3B).

Growth: In July 2020, the decrease in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes's year-by-year exports was explained primarily by a decrease in exports to Australia (€-208M or -79.9%), South Korea (€-97.8M or -70.9%), and Nigeria (€-97.5M or -99.9%). In July 2020, the increase in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes's year-by-year imports was explained primarily by an increase in imports from Oman (€663M or 195%), Saudi Arabia (€628M or 73.9%), and Russia (€572M or 28.6%).

Subnational Monthly Trade

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EXPORT GROWTH (July 2019 - July 2020): €-432M, (-27.3%)

IMPORT GROWTH (July 2019 - July 2020): €4.27B, (24.7%)

MAIN DESTINATION (July 2020): Singapore, €195M

This section shows Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes's exports and imports data at subnational level for Portugal. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes over time.

Value

EXPORTS (2018): $3.28B

IMPORTS (2018): $9.58B

NET TRADE (2018): -$6.3B

In 2018, Portugal exported $3.28B in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes. The main destinations of Portugal exports on Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were United States ($882M), Spain ($801M), Netherlands ($353M), Morocco ($213M), and Gibraltar ($162M).

In 2018, Portugal imported $9.58B in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes, mainly from Spain ($1.72B), Angola ($1.1B), Russia ($848M), Saudi Arabia ($665M), and Azerbaijan ($581M).

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IN 2018, Portugal HAD A POSITIVE NET TRADE IN Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes WITH:

  • United States, $566M ($882M - $316M)
  • Morocco, $213M ($213M - $0)
  • Netherlands, $195M ($353M - $158M)

IN 2018, Portugal HAD A NEGATIVE NET TRADE IN Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes WITH:

  • Angola, -$1.08B ($20.6M - $1.1B)
  • Spain, -$922M ($801M - $1.72B)
  • Russia, -$842M ($6.14M - $848M)
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THE FASTEST GROWING Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes EXPORT MARKETS FOR Portugal WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes BY Portugal WERE (2017 - 2018):

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Market Concentration

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In 2018, Portugal's main exporting competitors in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were:

In 2018, Portugal's main importing competitors in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were:

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Trade Forecasts

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This section shows forecasts for total exports and imports, for Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes in Portugal. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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