Portugal (PRT) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Portugal-Italy Trade: In 2023, Portugal exported $3.83B to Italy. The main products that Portugal exported to Italy were Cars ($760M), Rolled Tobacco ($240M), and Delivery Trucks ($186M). Over the past 5 years the exports of Portugal to Italy have increased at an annualized rate of 9.66%, from $2.42B in 2018 to $3.83B in 2023.

In 2020, Portugal exported services to Italy worth $491M, with Travel ($210M), Transportation ($144M), and Other business services ($113M) being the largest in terms of value.

Italy-Portugal Trade: In 2023, Italy exported $5.6B to Portugal. The main products that Italy exported to Portugal were Packaged Medicaments ($212M), Motor vehicles; parts and accessories (8701 to 8705) ($131M), and Cars ($123M). Over the past 5 years the exports of Italy to Portugal have increased at an annualized rate of 2.05%, from $5.06B in 2018 to $5.6B in 2023.

In 2020, Italy exported services to Portugal worth $258M, with Travel ($97M), Transportation ($52.5M), and Other business services ($52.5M) being the largest in terms of value.

Comparison: In 2023, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 46 in total exports ($83B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Latest Trends

November, 2024

About

Overview In November 2024, Portugal exported €325M and imported €458M from Italy, resulting in a negative trade balance of €134M. Between November 2023 and November 2024 the exports of Portugal have decreased by €-51.8M (-13.8%) from €377M to €325M, while imports decreased by €-16.8M (-3.53%) from €475M to €458M.

Trade In November 2024, the top exports of Portugal to Italy were Cars, tractors, trucks & parts thereof. (€31.8M), Tobacco & substitutes (€19.8M), Knitted clothing accesories (€17.9M), Electrical machinery and electronics (€17M), and Paper articles (€16.5M). In November 2024 the top imports of Portugal from Italy were Machinery, mechanical appliances, & parts (€57.5M), Electrical machinery and electronics (€29.1M), Pharmaceutical products (€27.3M), Cars, tractors, trucks & parts thereof. (€24.4M), and Plastics & articles thereof (€22.9M).

Growth In November 2024, the decrease in Portugal's year-by-year exports to Italy was explained primarily by an decrease in product exports in Animal or vegetable fats, oils, &... (€-12.1M or -71.9%), Knitted clothing accesories (€-5.1M or -22.1%), and Oils seeds, oleaginous fruits, grains, straw... (€-2.81M or -84.4%). In November 2024, the decrease in Portugal's year-by-year imports from Italy was explained primarily by an decrease in product imports in Mineral fuels, mineral oils and products... (€-4.69M or -79.6%), Iron & steel (€-3.86M or -23.8%), and Tobacco & substitutes (€-3.48M or -71.1%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (November 2023 - November 2024)€-51.8M(-13.8%)

IMPORT GROWTH (November 2023 - November 2024)€-16.8M(-3.53%)

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

To check Italy and Portugal 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 2023, Portugal exported $3.83B to Italy. The main products exported from Portugal to Italy were Cars ($760M), Rolled Tobacco ($240M), and Delivery Trucks ($186M). During the last 5 years the exports of Portugal to Italy have increased at an annualized rate of 9.66%, from $2.42B in 2018 to $3.83B in 2023.

In 2018, Italy exported $5.6B to Portugal. The main products exported from Italy to Portugal were Packaged Medicaments ($212M), Motor vehicles; parts and accessories (8701 to 8705) ($131M), and Cars ($123M). During the last 5 years the exports of Italy to Portugal have increased at an annualized rate of 2.05%, from $5.06B in 2023 to $5.6B in 2018.

Exports from Portugal () to Italy () (2023)

Exports from Italy () to Portugal () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Portugal
Top DestinationSpain$17.7B

Italy
Top DestinationGermany$71.4B

This map shows whether countries import more from Portugal or Italy. Each country is colored based on the difference in imports they receive from Portugal and Italy or the difference in the growth in imports.

In 2023, countries that imported more from Portugal than Italy included Angola ($1.64B), Cape Verde ($536M), and Mozambique ($263M).

In 2023, countries that imported more from Italy than Portugal included United States ($70.9B), Germany ($71.4B), and France ($61.1B).

Difference in imports from Italy () and Portugal () (2023)

Comparative Advantage Portugal - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Portugal had a large net trade with Italy in the exports of Transportation ($1.04B), Machines ($495M), and Textiles ($379M).

During 2018, Italy had a large net trade with Portugal in the exports of Machines ($1.37B), Metals ($673M), and Textiles ($649M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Portugal Italy+$86.7MCars

Top Product Potential Italy Portugal+$75.9MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Ita Year

Prt Year

In 2020, Portugal exported services to Italy worth $491M, with Travel ($210M), Transportation ($144M), and Other business services ($113M) being the largest in terms of value.

In 2020, Italy exported services to Portugal worth $258M, with Travel ($97M), Transportation ($52.5M), and Other business services ($52.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Portugal () to Italy () (2020)

Services Exports from Italy () to Portugal () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Portugal and Italy. This means that a dot/product with the flag of Portugal indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Portugal.

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Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Portugal () to Italy () (2023)

Exports from Italy () to Portugal () (2023)

Market Competitiveness

Difference in imports from Italy () and Portugal () (2023)

Comparative Advantage Portugal - Italy

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Portugal () to Italy () (2020)

Services Exports from Italy () to Portugal () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Portugal () and Italy () (2023)

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