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2022
Flag → Flag
Exports $3.61BRnk 6 / 208
2022
Flag → Flag
Top Product $573MCars
2022
Flag → Flag
Exports $5.98BRnk 24 / 221
2022
Flag → Flag
Top Product $475MRefined Petroleum
2022
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Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
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Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
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GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
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GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
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 GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
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GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
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GDP PC $24,275CURRENT US$
Rnk 46 / 186
2012-2022
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GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186
2022
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GDP PC$34,158CURRENT US$
Rnk 30 / 186
2012-2022
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GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186

About

Portugal-Italy Trade: In 2022, Portugal exported $3.61B to Italy. The main products that Portugal exported to Italy were Cars ($573M), Rolled Tobacco ($234M), and Pure Olive Oil ($150M). Over the past 5 years the exports of Portugal to Italy have increased at an annualized rate of 10.6%, from $2.18B in 2017 to $3.61B in 2022.

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 2022, Italy exported $5.98B to Portugal. The main products that Italy exported to Portugal were Refined Petroleum ($475M), Packaged Medicaments ($202M), and Broadcasting Equipment ($137M). Over the past 5 years the exports of Italy to Portugal have increased at an annualized rate of 6.26%,  from $4.41B in 2017 to $5.98B in 2022.

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 2022,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Latest Trends

August, 2024

About

Overview In August 2024, Portugal exported €180M and imported €376M from Italy, resulting in a negative trade balance of €196M. Between August 2023 and August 2024 the exports of Portugal have increased by €2.62M (1.48%) from €177M to €180M, while imports increased by €80.8M (27.4%) from €295M to €376M.

Trade In August 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 August 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 August 2024, the increase in Portugal's year-by-year exports to Italy was explained primarily by an increase in product exports in Pharmaceutical products (€3.94M or 85%), Tobacco & substitutes (€2.78M or 16.3%), and Machinery, mechanical appliances, & parts (€2.43M or 18.6%). In August 2024, the increase in Portugal's year-by-year imports  from Italy was explained primarily by an increase in product imports  in Pharmaceutical products (€18.4M or 208%), Machinery, mechanical appliances, & parts (€12.9M or 29.1%), and Electrical machinery and electronics (€5.68M or 24.3%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)€2.62M(1.48%)
IMPORT GROWTH (August 2023 - August 2024)€80.8M(27.4%)

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.

For full datasets download visit Bulk Download page.

Explore Italy and Portugal Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Portugal exported $3.61B to Italy. The main products exported from Portugal to Italy were Cars ($573M), Rolled Tobacco ($234M), and Pure Olive Oil ($150M). During the last 5 years the exports of Portugal to Italy have increased at an annualized rate of 10.6%, from $2.18B in 2017 to $3.61B in 2022.

In 2017, Italy exported $5.98B to Portugal. The main products exported from Italy to Portugal were Refined Petroleum ($475M), Packaged Medicaments ($202M), and Broadcasting Equipment ($137M). During the last 5 years the exports of Italy to Portugal have increased at an annualized rate of 6.26%, from $4.41B in 2022 to $5.98B in 2017.

Exports from Portugal (Flag) to Italy (Flag) (2022)

Exports from Italy (Flag) to Portugal (Flag) (2022)

Market Competitiveness

Color
Portugal
Top DestinationSpain$20.5B
Italy
Top DestinationGermany$78.5B

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 2022, countries that imported more from Portugal than Italy included Angola ($1.59B), Cape Verde ($407M), and Mozambique ($262M).

In 2022, countries that imported more from Italy than Portugal included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

Difference in imports from Italy (Flag) and Portugal (Flag) (2022)

Comparative Advantage Portugal - Italy

Flow
Scale

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

During 2022, Portugal had a large net trade with Italy in the exports of Transportation ($748M), Textiles ($434M), and Machines ($403M).

During 2017, Italy had a large net trade with Portugal in the exports of Machines ($1.35B), Metals ($675M), and Textiles ($654M).

Potential Exports

Potential Exports

Depth
View
Sort By
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

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 (Flag) to Italy (Flag) (2020)

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

Service Trade

Economic Complexity

Competitive Landscape

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.

Product Space of Portugal (Flag) and Italy (Flag) (2022)

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