Portugal (PRT) and Russia (RUS) Trade | The Observatory of Economic Complexity

About

Portugal-Russia Trade: In 2022, Portugal exported $270M to Russia. The main products that Portugal exported to Russia were Other Processed Vegetables ($11.8M), Wine ($11.2M), and Agglomerated Cork ($10.2M). Over the past 5 years the exports of Portugal to Russia have increased at an annualized rate of 31.4%, from $68.9M in 2017 to $270M in 2022.

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

Russia-Portugal Trade: In 2022, Russia exported $1.14B to Portugal. The main products that Russia exported to Portugal were Refined Petroleum ($260M), Petroleum Gas ($120M), and Non-fillet Frozen Fish ($43.5M). Over the past 5 years the exports of Russia to Portugal have increased at an annualized rate of 37.2%, from $234M in 2017 to $1.14B in 2022.

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 2022, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B). That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Latest Trends

March, 2024

About

Overview In March 2024, Portugal exported €7.88M and imported €6.32M from Russia, resulting in a positive trade balance of €1.56M. Between March 2023 and March 2024 the exports of Portugal have increased by €996k (14.5%) from €6.88M to €7.88M, while imports decreased by €-6.52M (-50.8%) from €12.8M to €6.32M.

Trade In March 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 March 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 March 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 March 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

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)€996k(14.5%)

IMPORT GROWTH (March 2023 - March 2024)€-6.52M(-50.8%)

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

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Portugal exported $270M to Russia. The main products exported from Portugal to Russia were Other Processed Vegetables ($11.8M), Wine ($11.2M), and Agglomerated Cork ($10.2M). During the last 5 years the exports of Portugal to Russia have increased at an annualized rate of 31.4%, from $68.9M in 2017 to $270M in 2022.

In 2017, Russia exported $1.14B to Portugal. The main products exported from Russia to Portugal were Refined Petroleum ($260M), Petroleum Gas ($120M), and Non-fillet Frozen Fish ($43.5M). During the last 22 years the exports of Russia to Portugal have increased at an annualized rate of 37.2%, from $234M in 1995 to $1.14B in 2017.

Exports from Portugal () to Russia () (2022)

Exports from Russia () to Portugal () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Portugal
Top DestinationSpain$20.5B

Russia
Top DestinationChina$101B

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 2022, countries that imported more from Portugal than Russia included Spain ($20.5B), Angola ($1.59B), and Gibraltar ($561M).

In 2022, countries that imported more from Russia than Portugal included China ($101B), India ($40.4B), and Turkey ($25.3B).

Difference in imports from Russia () and Portugal () (2022)

Comparative Advantage Portugal - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Portugal had a large net trade with Russia in the exports of Foodstuffs ($29M), Machines ($13.6M), and Wood Products ($13M).

During 2017, Russia had a large net trade with Portugal in the exports of Mineral Products ($380M), Chemical Products ($88.5M), and Animal Products ($74.5M).

Service Trade

Bilateral Service Trade

Rus Year

Prt Year

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 () to Russia () (2020)

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

Economic Complexity

Competitive Landscape

Year

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.

About

Latest Trends

About

Latest Trade

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Historical Data

Bilateral Trade by Products

Exports from Portugal () to Russia () (2022)

Exports from Russia () to Portugal () (2022)

Market Competitiveness

Difference in imports from Russia () and Portugal () (2022)

Comparative Advantage Portugal - Russia

Service Trade

Bilateral Service Trade

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

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

Economic Complexity

Competitive Landscape

Product Space of Portugal () and Russia () (2022)

Keep Exploring