Overview In June 2022 Portugal exported €7.05B and imported €9.57B, resulting in a negative trade balance of €2.52B. Between June 2021 and June 2022 the exports of Portugal have increased by €1.91B (37.1%) from €5.14B to €7.05B, while imports increased by €2.91B (43.6%) from €6.67B to €9.57B.
Trade In June 2022, the top exports of Portugal were Vehicles (€927M), Mineral fuels, mineral oils and products... (€752M), Electrical machinery and equipment and parts... (€494M), Nuclear reactors, boilers, machinery and mechanical... (€412M), and Plastics and articles thereof (€370M). In June 2022 the top imports of Portugal were Mineral fuels, mineral oils and products... (€2.01B), Vehicles (€922M), Electrical machinery and equipment and parts... (€834M), Nuclear reactors, boilers, machinery and mechanical... (€654M), and Plastics and articles thereof (€495M).
Destinations In June 2022, Portugal exported mostly to Spain (€1.81B), France (€874M), Germany (€773M), United States (€492M), and United Kingdom (€384M), and imported mostly from Spain (€2.93B), Germany (€1.04B), Brazil (€733M), France (€527M), and Netherlands (€453M).
Growth In June 2022, the increase in Portugal's year-by-year exports was explained primarily by an increase in exports to Other (€32.4M or 687%), Japan (€12.2M or 113%), and Malta (€11M or 571%), and product exports increase in Tobacco and manufactured tobacco substitutes (€25.4M or 63.2%), Iron and steel (€16M or 14.5%), and Pharmaceutical products (€13.1M or 15.9%). In June 2022, the increase in Portugal's year-by-year imports was explained primarily by an increase in imports from Nigeria (€50.4M or 91.9%), Russia (€37.8M or 71.4%), and Turkey (€25.9M or 40.3%), and product imports increase in Chemical products n.e.s. (€30.8M or 20.1%), Cereals (€9.92M or 16.8%), and Oil seeds and oleaginous fruits; miscellaneous... (€8.39M or 14.3%).