Overview In January 2023 Portugal exported €6.43B and imported €8.39B, resulting in a negative trade balance of €1.96B. Between January 2022 and January 2023 the exports of Portugal have increased by €780M (13.8%) from €5.65B to €6.43B, while imports increased by €797M (10.5%) from €7.59B to €8.39B.
Trade In January 2023, the top exports of Portugal were Cars, tractors, trucks & parts thereof. (€706M), Electrical machinery and electronics (€549M), Mineral fuels, mineral oils and products... (€505M), Machinery, mechanical appliances, & parts (€427M), and Plastics & articles thereof (€318M). In January 2023 the top imports of Portugal were Mineral fuels, mineral oils and products... (€1.14B), Cars, tractors, trucks & parts thereof. (€955M), Electrical machinery and electronics (€838M), Machinery, mechanical appliances, & parts (€631M), and Plastics & articles thereof (€384M).
Destinations In January 2023, Portugal exported mostly to Spain (€1.71B), France (€872M), Germany (€693M), United States (€349M), and United Kingdom (€276M), and imported mostly from Spain (€2.72B), Germany (€973M), France (€557M), Netherlands (€465M), and China (€421M).
Growth In January 2023, the increase in Portugal's year-by-year exports was explained primarily by an increase in exports to Spain (€313M or 24.7%), France (€127M or 19.4%), and Germany (€94.6M or 18.2%), and product exports increase in Mineral fuels, mineral oils and products... (€167M or 63.2%), Plastics & articles thereof (€80.7M or 33.5%), and Electrical machinery and electronics (€78.4M or 21.1%). In January 2023, the increase in Portugal's year-by-year imports was explained primarily by an increase in imports from Spain (€574M or 31.4%), United States (€198M or 146%), and China (€174M or 64.8%), and product imports increase in Mineral fuels, mineral oils and products... (€566M or 115%), Iron & steel (€207M or 102%), and Plastics & articles thereof (€154M or 54.8%).