2023
Exports
$87.3kWorld Rnk 107 / 150
Flag Rnk 1115 / 1213
2023
PRODUCT COMPLEXITY IN Crude Petroleum
-2.37Rnk 1015 / 1025
2023
Imports
$5.79BWorld Rnk 26 / 159
Flag Rnk 2 / 1211
2023
ECONOMIC COMPLEXITY of Portugal
0.57Rnk 42 / 132

About

Exports In 2023, Portugal exported $87.3k in Crude Petroleum, making it the 107th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1115th most exported product in Portugal. The main destination of Crude Petroleum exports from Portugal are: United States ($60.9k), Netherlands ($18.2k), Mozambique ($4k), Spain ($3.49k), and Angola ($743).

The fastest growing export markets for Crude Petroleum of Portugal between 2022 and 2023 were United States ($60.9k), Netherlands ($11.2k), and Spain ($3.49k).

Imports In 2023, Portugal imported $5.79B in Crude Petroleum, becoming the 26th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 2nd most imported product in Portugal. Portugal imports Crude Petroleum primarily from: Brazil ($2.47B), Algeria ($890M), Nigeria ($703M), Azerbaijan ($427M), and United States ($346M).

The fastest growing import markets in Crude Petroleum for Portugal between 2022 and 2023 were Ghana ($233M), Norway ($72.4M), and United States ($457k).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$87.3k
IMPORTS (2023)$5.79B
NET TRADE (2023)-$5.79B

In 2023, Portugal exported $87.3k in Crude Petroleum. The main destinations of Portugal exports on Crude Petroleum were United States ($60.9k), Netherlands ($18.2k), Mozambique ($4k), Spain ($3.49k), and Angola ($743).

In 2023, Portugal imported $5.79B in Crude Petroleum, mainly from Brazil ($2.47B), Algeria ($890M), Nigeria ($703M), Azerbaijan ($427M), and United States ($346M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Portugal WERE (2022 - 2023):
United States$60.9k (1%)
Netherlands$11.2k (160%)
Spain$3.49k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Portugal WERE (2022 - 2023):
Mozambique-$10.5k (-72.4%)
Angola-$2.27k (-75.3%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Portugal's main exporting competitors in Crude Petroleum were:
In 2023, Portugal's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $18.9k
TOP IMPORT POTENTIALUnited States+ $309M

Crude Petroleum’s highest export potential is Netherlands. With an export gap of $18.9k.   Crude Petroleum’s highest import potential is United States with an import gap of $309M.

See methodology.

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