Situated on the southwestern edge of Europe, Portugal imported goods worth US$112.6 billion in 2024.

That figure represents a 44.7% increase from 2020's $77.8 billion, even though import spending slipped slightly by -0.7% year over year, compared to $113.5 billion in 2023.

According to the average exchange rate in 2024, Portugal—using the euro—saw a minimal 0.02% gain against the US dollar. The relatively weaker EU currency made products imported into Portugal marginally more affordable for local buyers.

Domestically, the average inflation rate eased to 2.5% in 2024, a notable drop from 5.26% in 2023.

Portugal's Key International Suppliers

Recent trade data reveals that 81% of Portugal's imports originated from just a dozen major supplier countries. Leading the list is Spain, providing 33.1% of total imports, followed by Germany (11.3%), France (7.2%), Netherlands (5.6%), and Italy (5.2%). Other important suppliers include China (4.8%), Brazil (3.5%), Belgium (3.1%), the United States (2.2%), Ireland (1.8%), Poland (1.7%), and Türkiye (1.4%).

From a regional standpoint, European countries accounted for the vast majority—77.3%—of Portugal's import value in 2024. Within that total, 74.6% came from fellow members of the European Union.

Imports from Asia represented 12.1% of Portugal's spending, while Latin America contributed 4.2%, Africa supplied 3.8%, North America provided 2.6%, and Oceania—led by Australia and New Zealand—made up just 0.1%.

Given Portugal's population of 10.33 million, the country's 2024 imports equate to roughly $10,900 per person, slightly below the $11,000 per capita average from 2023.

Portugal's Top 10 Import Categories

The following product groups represent the largest shares of Portugal's 2024 import expenditures:

1.Vehicles: US$13.3B (11.8%)

2.Mineral fuels including oil: $12.1B (10.8%)

3.Electrical machinery and equipment: $10.8B (9.6%)

4.Machinery including computers: $9.9B (8.8%)

5.Plastics and plastic items: $5B (4.4%)

6.Pharmaceuticals: $4.1B (3.6%)

7.Iron and steel: $3.7B (3.3%)

8.Organic chemicals: $3.68B (3.3%)

9.Optical, technical, and medical instruments: $2.6B (2.3%)

10.Fish and seafood: $2.5B (2.2%)

Together, these ten categories made up 60.1% of Portugal's total imports in 2024.

The fastest-rising import groups were organic chemicals (up 18.9%), optical and medical apparatus (up 7.5%), and machinery including computers (up 6.3%).

Conversely, the steepest drop came from mineral fuels including oil, which fell -8.2% year over year, primarily due to lower demand for petroleum gases, crude oil, and refined petroleum products.

Portugal's Vehicle Imports Breakdown

Within the vehicle category, Portuguese importers spent the most on:

1.Cars: US$7.1B (down -0.5%)

2.Automobile parts and accessories: $3.6B (down -2.6%)

3.Trucks: $972.6M (up 8.2%)

4.Tractors: $587.9M (down -1.7%)

5.Motorcycle parts/accessories: $334.7M (down -12.7%)

6.Motorcycles: $248.6M (down -4.9%)

7.Trailers: $169.8M (down -14.8%)

8.Public transport vehicles: $150.4M (down -25.7%)

9.Special purpose vehicles: $88.5M (up 26.2%)

10.Chassis with engines: $58.3M (up 20.7%)

Notably, demand grew most strongly for special-purpose vehicles (+26.2%), chassis fitted with engines (+20.7%), and trucks (+8.2%) between 2023 and 2024—indicating dynamic activity in the commercial and industrial vehicle sectors.

Finding Buyers in Portugal

For businesses interested in entering or expanding within Portugal's import market, locating dependable buyers is a key step. Using advanced data solutions like Tendata, companies can leverage keyword searches and HS code filters to uncover verified importers, monitor buying trends, and access up-to-date contact details—dramatically speeding up market entry.

For example, in the plastic products sector, Tendata's platform quickly identifies the top 10 buyers in Portugal for 2024:

1.LY ECO LIMITED (29.89%, $2M)

2.M S Vishay Electronica Portugal LDA (12.25%, $0.82M)

3.Tupperware Products S.A. Portugal (9.25%, $0.62M)

4.Indiscreet World Ltd Luisa Pedro (8.65%, $0.58M)

5.Bosch Termotecnologia SA (6.57%, $0.44M)

6.MA Brand Objects LDA (4.52%, $0.3M)

7.Modelo Continente International TRA (3.54%, $0.24M)

8.XXND XXTN XXELMXXFERXXIRA (2.24%, $0.15M)

9.Consultoria Tecnica E (1.7%, $0.11M)

10.Sunviauto Ind Company (1.42%, $0.09M)

Whether you're an experienced exporter or a newcomer, using Portugal's import data can uncover valuable insights and opportunities. To explore more about Portugal's import statistics or to access detailed trade information, contact Tendata for a free online demonstration.