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2023
Flag → Flag
Exports $81.2MRnk 58 / 211
2023
Flag → Flag
Top Product $15MOther Processed Vegetables
2023
Flag → Flag
Exports $361MRnk 54 / 137
2023
Flag → Flag
Top Product $207MPetroleum Gas
2023
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.3Rnk 50 / 132
2023
Flag  
GDP$289BCURRENT US$
Rnk 48 / 195
2013-2023
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GDP GROWTH27.5%CURRENT US$
Rnk 119 / 195
2023
Flag
 GDP$2.02TCURRENT US$
Rnk 11 / 195
2013-2023
Flag
GDP GROWTH-11.8%CURRENT US$
Rnk 183 / 195
2023
Flag
GDP PC $27,331CURRENT US$
Rnk 50 / 195
2013-2023
Flag
GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 195
2023
Flag
GDP PC$13,817CURRENT US$
Rnk 74 / 196
2013-2023
Flag
GDP PC GROWTH-13.3%CURRENT US$
Rnk 170 / 195

About

Portugal-Russia Trade: In 2023, Portugal exported $81.2M to Russia. The main products that Portugal exported to Russia were Other Processed Vegetables ($15M), Wine ($12.6M), and Coffee ($9.28M). Over the past 5 years the exports of Portugal to Russia have decreased at an annualized rate of 29.9%, from $478M in 2018 to $81.2M in 2023.

In 2020, Portugal exported services to Russia worth $72M, with Travel ($72M) being the largest in terms of value.

Russia-Portugal Trade: In 2023, Russia exported $361M to Portugal. The main products that Russia exported to Portugal were Petroleum Gas ($207M), Non-fillet Frozen Fish ($60.9M), and Dried/Salted/Smoked/Brined Fish ($36M). Over the past 5 years the exports of Russia to Portugal have decreased at an annualized rate of 26.4%,  from $1.68B in 2018 to $361M in 2023.

In 2020, Russia exported services to Portugal worth $34.1M, with Transportation ($22.3M), Other business services ($5.42M), and Computer and information services ($3.62M) 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, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Latest Trends

November, 2024

About

Overview In November 2024, Portugal exported €5.98M and imported €3.46M from Russia, resulting in a positive trade balance of €2.53M. Between November 2023 and November 2024 the exports of Portugal have increased by €956k (19%) from €5.03M to €5.98M, while imports decreased by €-6.4M (-64.9%) from €9.86M to €3.46M.

Trade In November 2024, the top exports of Portugal to Russia were Preparations of vegetables, fruit, nuts or... (€2.61M), Food residues & wastes; animal fodder (€1.72M), Beverages, spirits, & vinegar (€1.02M), Machinery, mechanical appliances, & parts (€916k), and Coffee, tea, mate & spices (€634k). In November 2024 the top imports of Portugal from Russia were Fish, Crustaceans & Molluscs (€8.67M), Organic chemicals (€2.62M), Fertilizers (€1.69M), Inorganic chemicals (€1.21M), and Food residues & wastes; animal fodder (€861k).

Growth In November 2024, the increase in Portugal's year-by-year exports to Russia was explained primarily by an increase in product exports in Preparations of vegetables, fruit, nuts or... (€2.29M or 708%), Food residues & wastes; animal fodder (€1.72M or 717k%), and Coffee, tea, mate & spices (€333k or 110%). In November 2024, the decrease in Portugal's year-by-year imports  from Russia was explained primarily by an decrease in product imports  in Mineral fuels, mineral oils and products... (€-83.2M or -100%), Wood, wood articles, & charcoal (€-3.4M or -100%), and Plastics & articles thereof (€-3M or -100%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)€956k(19%)
IMPORT GROWTH (November 2023 - November 2024)€-6.4M(-64.9%)

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 Russia and Portugal trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Russia and Portugal Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Portugal exported $81.2M to Russia. The main products exported from Portugal to Russia were Other Processed Vegetables ($15M), Wine ($12.6M), and Coffee ($9.28M). During the last 5 years the exports of Portugal to Russia have decreased at an annualized rate of 29.9%, from $478M in 2018 to $81.2M in 2023.

In 2018, Russia exported $361M to Portugal. The main products exported from Russia to Portugal were Petroleum Gas ($207M), Non-fillet Frozen Fish ($60.9M), and Dried/Salted/Smoked/Brined Fish ($36M). During the last 5 years the exports of Russia to Portugal have decreased at an annualized rate of 26.4%, from $1.68B in 2023 to $361M in 2018.

Exports from Portugal (Flag) to Russia (Flag) (2023)

Exports from Russia (Flag) to Portugal (Flag) (2023)

Market Competitiveness

Color
Portugal
Top DestinationSpain$17.7B
Russia
Top DestinationChina$129B

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

In 2023, countries that imported more from Portugal than Russia included Spain ($17.7B), France ($9.19B), and Germany ($8.12B).

In 2023, countries that imported more from Russia than Portugal included China ($129B), India ($66.1B), and Turkey ($31B).

Difference in imports from Russia (Flag) and Portugal (Flag) (2023)

Comparative Advantage Portugal - Russia

Flow
Scale

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

During 2023, Portugal had a large net trade with Russia in the exports of Foodstuffs ($35.8M), Machines ($9.45M), and Vegetable Products ($9.39M).

During 2018, Russia had a large net trade with Portugal in the exports of Mineral Products ($208M), Animal Products ($100M), and Chemical Products ($42.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal Russia+$10.8MLeather Footwear
Top Product Potential Russia Portugal+$142MRefined Petroleum

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 Russia worth $72M, with Travel ($72M) being the largest in terms of value.

In 2020, Russia exported services to Portugal worth $34.1M, with Transportation ($22.3M), Other business services ($5.42M), and Computer and information services ($3.62M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Russia (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 Russia. This means that a dot/product with the flag of Portugal indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Portugal.

Product Space of Portugal (Flag) and Russia (Flag) (2023)

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