Overview In March 2023 Portugal exported €7.84B and imported €9.93B, resulting in a negative trade balance of €2.09B. Between March 2022 and March 2023 the exports of Portugal have increased by €1.24B (18.8%) from €6.6B to €7.84B, while imports increased by €912M (10.1%) from €9.02B to €9.93B.
Trade In March 2023, the top exports of Portugal were Cars, tractors, trucks & parts thereof. (€1.07B), Electrical machinery and electronics (€635M), Pharmaceutical products (€529M), Machinery, mechanical appliances, & parts (€527M), and Mineral fuels, mineral oils and products... (€427M). In March 2023 the top imports of Portugal were Mineral fuels, mineral oils and products... (€1.24B), Cars, tractors, trucks & parts thereof. (€1.16B), Electrical machinery and electronics (€898M), Machinery, mechanical appliances, & parts (€794M), and Organic chemicals (€534M).
Destinations In March 2023, Portugal exported mostly to Spain (€1.9B), France (€1.03B), Germany (€880M), United States (€739M), and United Kingdom (€377M), and imported mostly from Spain (€3.37B), Germany (€1.09B), France (€639M), Netherlands (€496M), and Italy (€492M).
Growth In March 2023, the increase in Portugal's year-by-year exports was explained primarily by an increase in exports to United States (€325M or 78.4%), Spain (€198M or 11.7%), and France (€183M or 21.8%), and product exports increase in Pharmaceutical products (€413M or 355%), Cars, tractors, trucks & parts thereof. (€316M or 41.6%), and Machinery, mechanical appliances, & parts (€163M or 44.9%). In March 2023, the increase in Portugal's year-by-year imports was explained primarily by an increase in imports from Spain (€427M or 14.5%), Ireland (€353M or 591%), and Brazil (€93.6M or 27%), and product imports increase in Organic chemicals (€307M or 136%), Cars, tractors, trucks & parts thereof. (€304M or 35.2%), and Machinery, mechanical appliances, & parts (€125M or 18.7%).