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2022
Flag → Flag
Exports $92.4MRnk 57 / 208
2022
Flag → Flag
Top Product $11.8MOther Processed Vegetables
2022
Flag → Flag
Exports $616MRnk 55 / 138
2022
Flag → Flag
Top Product $260MRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
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Economic Complexity (ECI) ECI 0.43Rnk 47 / 133
2022
Flag  
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$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP GROWTH1.45%CURRENT US$
Rnk 164 / 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
Flag
GDP PC$15,345CURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

About

Portugal-Russia Trade: In 2022, Portugal exported $92.4M 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 decreased at an annualized rate of 19.3%, from $270M in 2017 to $92.4M 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 $616M 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 decreased at an annualized rate of 3.77%,  from $1.14B in 2017 to $616M 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

August, 2024

About

Overview In August 2024, Portugal exported €7.38M and imported €14.1M from Russia, resulting in a negative trade balance of €6.68M. Between August 2023 and August 2024 the exports of Portugal have increased by €2.55M (52.8%) from €4.83M to €7.38M, while imports decreased by €-38.6M (-73.3%) from €52.6M to €14.1M.

Trade In August 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 August 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 August 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 August 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 (August 2023 - August 2024)€2.55M(52.8%)
IMPORT GROWTH (August 2023 - August 2024)€-38.6M(-73.3%)

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 2022, Portugal exported $92.4M 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 decreased at an annualized rate of 19.3%, from $270M in 2017 to $92.4M in 2022.

In 2017, Russia exported $616M 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 5 years the exports of Russia to Portugal have decreased at an annualized rate of 3.77%, from $1.14B in 2022 to $616M in 2017.

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

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

Market Competitiveness

Color
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 (Flag) and Portugal (Flag) (2022)

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 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).

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) (2022)

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