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

About

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 11.6%, 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.

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.

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

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $61.3M and imported $44.8M from Portugal, resulting in a positive trade balance of $16.5M. Between January 2021 and January 2022 the exports of Russia have increased by $42.8M (233%) from $18.4M to $61.3M, while imports increased by $9.47M (26.8%) from $35.3M to $44.8M.

Trade In January 2022, the top exports of Russia to Portugal were Hot-Rolled Iron ($8.7M), Scrap Iron ($4.59M), Plywood ($1.9M), Synthetic Rubber ($1.36M), and Refined Petroleum ($283k). In January 2022 the top imports of Russia from Portugal were Wine ($2.39M), Video Displays ($2.28M), Agglomerated Cork ($2.27M), Valves ($2.21M), and Leather Footwear ($1.96M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($45.7M), TYUMEN REGION ($2.24M), VOLOGDA REGION ($2.19M), YAROSLAVL REGION ($2.1M), and MURMANSK REGION ($1.68M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($24.7M), MOSCOW REGION ($5.04M), ST. PETERSBURG ($4.35M), SAMARA REGION ($1.6M), and VLADIMIR REGION ($1.5M).

Growth In January 2022, the increase in Russia's year-by-year exports to Portugal was explained primarily by an increase in product exports in Hot-Rolled Iron ($2.87M or 49.1%), Scrap Iron ($2.59M or 129%), and Plywood ($433k or 29.5%). In January 2022, the increase in Russia's year-by-year imports  from Portugal was explained primarily by an increase in product imports  in Video Displays ($1.67M or 274%), Packaged Medicaments ($1.59M or 9.9k%), and Valves ($1.22M or 123%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (January 2021 - January 2022)$42.8M(233%)
IMPORT GROWTH (January 2021 - January 2022)$9.47M(26.8%)
MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$45.7M

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

To check Portugal and Russia trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Portugal and Russia Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, 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 11.6%, from $1.14B in 2017 to $616M in 2022.

In 2017, 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 2022 to $92.4M in 2017.

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

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

Market Competitiveness

Color
Russia
Top DestinationChina$101B
Portugal
Top DestinationSpain$20.5B

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

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

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

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

Comparative Advantage Russia - Portugal

Flow
Scale

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

During 2022, Russia had a large net trade with Portugal in the exports of Mineral Products ($380M), Chemical Products ($88.5M), and Animal Products ($74.5M).

During 2017, Portugal had a large net trade with Russia in the exports of Foodstuffs ($29M), Machines ($13.6M), and Wood Products ($13M).

Potential Exports

Potential Exports

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

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, 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.

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

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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