Imports

Portugal, located on the southwestern coastline of Europe, will import products worth $115 billion by 2022. This is a 16.9% increase from $98.3 billion in the same period in 2021.

Portugal's Best International Trade Suppliers

The latest country-specific data shows that Portugal's imports are mainly supplied by exporters from: Spain (35.6% of Portugal's total), Germany (7.5%), France (5.2%), mainland China (5.1%) , the Netherlands (4%), Italy (2.8%), Brazil (2.7%), the United States (2.2%), Belgium (2.2%), Nigeria (1.8%), Poland (1.7%) and Turkey (1.3%).

Portugal's Top 10 Imports

1. Fossil fuels including oil: $19.2 billion (16.7% of total imports)

2. Electrical machinery and equipment: $11 billion (9.6%)

3. Vehicles: $10.8 billion (9.4%)

4. Machinery including computers: $8.4 billion (7.3%)

5. Plastics, plastic products: $5.5 billion (4.8%)

6. Iron and steel: $4.3 billion (3.8%)

7. Pharmaceuticals: $3.7 billion (3.3%)

8. Organic chemicals: $2.8 billion (2.4%)

9. Fish: $2.4 billion (2.1%)

10. Other chemicals: $2.2 billion (1.9%)

Portugal's top 10 imports accounted for more than three-fifths (61.2%) of the total value of imports purchased from other countries.

The fastest-growing major product categories were imports of fossil fuels, including petroleum (up 70.5% from 2022), electrical machinery and equipment (up 16.4%), vehicles (up 15.1%) and fish (up 11.5%).

The worst year-on-year decline was a -5.7% drop in Portugal's miscellaneous chemicals imports.

Exports

Portugal shipped $82.4 billion worth of products to the world in 2022. The total value of Portugal's exported goods increased by 9.5% from $75.2 billion in 2021.

Portugal's five most valuable exports are refined petroleum, automobiles, automotive parts or accessories, uncoated paper for writing or printing, and leather shoes.

Portugal's Best Export Customers

The latest country-specific data shows that Portugal's exports were mainly purchased by importers from Spain (26.1% of Portugal's total), France (12.4%), Germany (10.9%), the United States (6.5%), the United Kingdom (4.9%), Italy (4.5%), the Netherlands (4%), Belgium (2.4%), Angola (1.8%), Poland (1.4%), Sweden (1.4%), the Netherlands (4%), the United States (1.4%), the United States (1.4%), the United States (1.4%) and the United States (1.4%). (1.4%), Sweden (1.3%) and Brazil (1.2%).

Portugal's Top 10 Exports

1. Automobiles: $9.7 billion (11.8% of total exports)

2. Fossil fuels including oil: $7 billion (8.6%)

3. Electrical machinery and equipment: $6.6 billion (8%)

4. Machinery including computers: $4.8 billion (5.9%)

5. Plastics, plastic products: $4.3 billion (5.2%)

6. Paper, paper products: $3.1 billion (3.7%)

7. Knitted or crocheted clothing, accessories: $2.68 billion (3.3%)

8. Iron and steel products: $2.65 billion (3.2%)

9. Furniture, bedding, lighting, signs, prefabricated buildings: $2.3 billion (2.8%)

10. Footwear: $2.2 billion (2.6%)

Portugal's top 10 exports accounted for 55% of its total global export value.

Fossil fuels, including petroleum, are the fastest growing of the top 10 export categories, growing by 62.4% from 2021 to 2022. Second in terms of improvement in export sales was paper and paper products, which grew by 29.5%. Portugal ranked third in the increase in shipments of electrical machinery and equipment, up 12.9 percent.

The largest decline among Portugal's top 10 export categories was knitted or crocheted apparel and accessories, down -2.5% year-on-year.

Based on more detailed 4-digit HS codes, Portugal's top 10 exports were:

1. Processed petroleum (9.7%, $5.66 Billion)

2. Automobiles (7.22%, $4.21 Billion)

3. Auto parts/accessories (5.61%, $3.27 Billion)

4. Uncoated Paper for Writing/Printing (3.13%, $1.82 Billion)

5. Footwear (Leather) (3.12%, $1.82 Billion)

6. Speed/distance meters (2.37%, $1.38 Billion)

7. Rubber Tires (New) (2.34%, $1.37 Billion)

8. Plastic plates, sheets, films, tapes, strips (2.08%, $1.22 Billion)

9. Drug Mixed Dose (1.93%, $1.12 Billion)

10. Trucks (1.84%, $1.07 Billion)

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