Sign In
Pricing

2021
Economic Complexity
Trade 0.56Rank 43 of 131
2021
Economic Complexity
Technology 0.8Rank 30 of 96
2021
Economic Complexity
Research 1Rank 26 of 140
2021
Product
Exports | Imports $75.6B | $97.8B46 of 226 |  42 of 226
2021
Per Capita Product
Exports | Imports $7.32k | $9.47k163 of 220 |  63 of 220

About

Overview In 2021, Portugal was the number 49 economy in the world in terms of GDP (current US$), the number 46 in total exports, the number 42 in total imports, the number 52 economy in terms of GDP per capita (current US$) and the number 43 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Portugal are Cars ($4.21B), Motor vehicles; parts and accessories (8701 to 8705) ($3.11B), Refined Petroleum ($2.67B), Leather Footwear ($1.72B), and Rubber Tires ($1.28B), exporting mostly to Spain ($19.3B), France ($9.33B), Germany ($8.13B), United States ($4.49B), and United Kingdom ($4.08B).

In 2021, Portugal was the world's biggest exporter of Agglomerated Cork ($646M), Natural Cork Articles ($534M), and Hat Forms ($21M)

Imports The top imports of Portugal are Crude Petroleum ($4.46B), Cars ($3.89B), Motor vehicles; parts and accessories (8701 to 8705) ($2.98B), Refined Petroleum ($2.52B), and Packaged Medicaments ($2.27B), importing mostly from Spain ($30.5B), Germany ($11.7B), France ($6.24B), Italy ($5.14B), and Netherlands ($5.08B).

In 2021, Portugal was the world's biggest importer of Raw Cork ($105M) and Debacked Cork ($20.8M)

Location Portugal borders Spain by land and Morocco by sea.

Latest Trends

September, 2023

About

Overview In September 2023 Portugal exported €6.31B and imported €8.48B, resulting in a negative trade balance of €2.17B. Between September 2022 and September 2023 the exports of Portugal have decreased by €-541M (-7.91%) from €6.85B to €6.31B, while imports decreased by €-1.07B (-11.2%) from €9.55B to €8.48B.

Trade In September 2023, the top exports of Portugal were Cars, tractors, trucks & parts thereof. (€664M), Electrical machinery and electronics (€582M), Machinery, mechanical appliances, & parts (€441M), Mineral fuels, mineral oils and products... (€393M), and Plastics & articles thereof (€296M). In September 2023 the top imports of Portugal were Mineral fuels, mineral oils and products... (€1.13B), Cars, tractors, trucks & parts thereof. (€902M), Electrical machinery and electronics (€835M), Machinery, mechanical appliances, & parts (€672M), and Plastics & articles thereof (€388M).

Destinations In September 2023, Portugal exported mostly to Spain (€1.67B), France (€794M), Germany (€682M), United States (€456M), and United Kingdom (€331M), and imported mostly from Spain (€2.94B), Germany (€974M), France (€562M), China (€492M), and Netherlands (€456M).

Growth In September 2023, the decrease in Portugal's year-by-year exports was explained primarily by an decrease in exports to Spain (€-168M or -9.15%), Germany (€-76.4M or -10.1%), and Netherlands (€-73.3M or -28.1%), and product exports decrease in Paper articles (€-91.9M or -32.8%), Cars, tractors, trucks & parts thereof. (€-90.1M or -12%), and Plastics & articles thereof (€-75.3M or -20.3%). In September 2023, the decrease in Portugal's year-by-year imports was explained primarily by an decrease in imports from Spain (€-162M or -5.22%), Germany (€-133M or -12%), and Algeria (€-131M or -98%), and product imports decrease in Mineral fuels, mineral oils and products... (€-393M or -25.8%), Electrical machinery and electronics (€-193M or -18.7%), and Organic chemicals (€-69.3M or -32.8%).

Latest Trade

Flow
Time Scale
Color
Type
EXPORT GROWTH (September 2022 - September 2023)€-541M(-7.91%)
IMPORT GROWTH (September 2022 - September 2023)€-1.07B(-11.2%)
MAIN DESTINATION (September 2023)Spain€1.67B

This section shows exports and imports data at subnational level for Portugal. Click any date in the line plot, or any product, destination or origin country to explore the exports or imports behavior of Portugal over time.

For full datasets download visit Bulk Download page.

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2021)Cars$4.21B
Top Destination (2021)Spain$19.3B

In 2021, Portugal exported a total of $75.6B, making it the number 46 exporter in the world. During the last five reported years the exports of Portugal have changed by $19B from $56.6B in 2016 to $75.6B in 2021.

The most recent exports are led by Cars ($4.21B), Motor vehicles; parts and accessories (8701 to 8705) ($3.11B), Refined Petroleum ($2.67B), Leather Footwear ($1.72B), and Rubber Tires ($1.28B). The most common destination for the exports of Portugal are Spain ($19.3B), France ($9.33B), Germany ($8.13B), United States ($4.49B), and United Kingdom ($4.08B).

Explore Visualizations

Exports (2021)
[Click to Select a Product]

Destinations (2021)
[Click to Select a Country]

Market Growth

Flow
View
Fastest Growing Export Markets (2020 - 2021)
Spain$4.51B (+ 30.5%)
France$1.33B (+ 16.6%)
United States$1.18B (+ 35.7%)
Fastest Growing Import Markets (2020 - 2021)
Spain$6.76B (+ 28.5%)
Germany$1.63B (+ 16.2%)
China$1.1B (+ 27.8%)

Total Export Growth by Market (2020 - 2021)

Service Trade

Service Trade

Portugal Exports Services (2020)$22.1B
Portugal Imports Services (2020)$14.4B

In 2020, Portugal exported $22.1B worth of services. The top services exported by Portugal in 2020 were Travel ($8.81B), Miscellaneous business, professional, and technical services ($4.88B), Air transport ($2.32B), Other transport ($1.97B), and Sea transport ($916M).

The top services imported by Portugal in 2020 were Miscellaneous business, professional, and technical services ($4.09B), Travel ($3.13B), Sea transport ($1.4B), Air transport ($1.3B), and Financial services ($589M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.56Rank 43 of 131
Economic Complexity (Technology)0.8Rank 30 of 96
Economic Complexity (Research)1Rank 26 of 140

Most Specialized Products by RCA Index

Portugal has a high level of specialization in Natural Cork Articles (202), Agglomerated Cork (154), Revolution Counters (39.5), Rosin (28.3), and Uncoated Paper (27.2). Specialization is measured using RCA, an index that takes the ratio between Portugal observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Portugal according to the relatedness index, were Packing Bags (0.46), Knit Women's Undergarments (0.46), Melons (0.46), Pickled Foods (0.46), and Knit Women's Coats (0.46). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Portugal is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Portugal. These are products that tend to be co-exported with the products that Portugal exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

Filter
Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Portugal's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨41st to the 43rd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: [email protected]
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms