Breaking News :

Top Import And Export Commodities Of Portugal

Top Import And Export Commodities Of Portugal

Top Import And Export Commodities Of Portugal

Top Import And Export Commodities Of Portugal
Top Import And Export Commodities Of Portugal

Formally the Portuguese Republic, Portugal exported US$61.5 billion worth of goods around the globe in 2020. That dollar amount reflects an 11.1% increase since 2016 but a -8.3% downtick from 2019 to 2020. Lets take a look at Portugal’s top imports and exports.

Applying a continental lens, almost four-fifths (79.1%) of Portugal exports by value were delivered to fellow European countries while 6% were sold to North American importers.

Portugal shipped another 5.7% worth of goods to Africa. Smaller percentages also went to Asia (5.6%), Latin America excluding Mexico but including the Caribbean (2.1%) then Oceania led by Australia (0.3%).

Top Import And Export Commodities Of Portugal

Portugal’s Top Trading Partners


Below is a list showcasing 15 of Portugal’s top trading partners, countries that imported the most Portuguese shipments by dollar value during 2020. Also shown is each import country’s percentage of total Portuguese exports.


Spain: US$15.7 billion (25.5% of total Portuguese exports)
France: $8.3 billion (13.5%)
Germany: $7.3 billion (11.8%)
United Kingdom: $3.5 billion (5.7%)
United States: $3.1 billion (5%)
Italy: $2.7 billion (4.4%)
Netherlands: $2.3 billion (3.7%)
Belgium: $1.4 billion (2.3%)
Angola: $994.3 million (1.6%)
Poland: $835.7 million (1.4%)
Brazil: $833.6 million (1.4%)
Switzerland: $751.5 million (1.2%)
Morocco: $723 million (1.2%)
Sweden: $708.7 million (1.2%)
China: $653.7 million (1.1%)
Roughly four-fifths (80.9%) of Portuguese exports in 2020 were delivered to the above 15 trade partners.

Switzerland (up 7.8%) and Sweden (up 6.5%) were the only top importers that increased purchases of Portugal’s exports from 2019 to 2020. Among the other top countries, declines ranged from a minimum of -0.4% for Brazil up to a -28.3% annual contraction for Angola.

Portugal’s Top 10 Imports

Located along southwestern Europe’s coastline, Portugal’s imported products cost US$77.5 billion in 2020. That dollar amount reflects a -13.4% decrease since 2016 but a 14.1% uptick from 2019 to 2020.

Based on the average exchange rate for 2020, Portugal uses the euro which appreciated by 3.1% against the US dollar since 2016 and increased by 2% from 2019 to 2020. The stronger EU currency made Portugal’s imports paid for in weaker US dollars relatively more expensive when converted starting from euros.

From a continental perspective, almost four-fifths (79.2%) of Portugal’s total imports by value in 2020 were purchased from fellow European countries. Asian trade partners supplied 11% of imports purchased by Portugal. Smaller percentages came from Africa (4.3%), Latin America (3.3%) excluding Mexico and the Caribbean, North America (2.1%) then Oceania (0.05%) led by New Zealand and Australia.

Given Portugal’s population of 10.3 million people, its total $77.5 billion in 2020 imports translates to roughly $7,600 in yearly product demand from every person in the southwest European country.

The following product groups represent the highest dollar value in Portugal’s import purchases during 2020. Also shown is the percentage share each product category represents in terms of overall imports into Portugal.


Vehicles: US$8.4 billion (10.9% of total imports)
Electrical machinery, equipment: $7.6 billion (9.8%)
Machinery including computers: $7.2 billion (9.3%)
Mineral fuels including oil: $6.7 billion (8.6%)
Plastics, plastic articles: $3.8 billion (4.8%)
Pharmaceuticals: $3.2 billion (4.2%)
Iron, steel: $2.4 billion (3.1%)
Fish: $1.9 billion (2.4%)
Other chemical goods: $1.9 billion (2.4%)
Optical, technical, medical apparatus: $1.8 billion (2.3%)
Portugal’s top 10 imports accounted for three-fifths (60.4%) of the overall value of its product purchases from other countries.

Imports under the aircraft and spacecraft category (up 190.9%) had the sole increase from 2019 to 2020.

Declines among the top 10 import categories ranged from -2% for electrical machinery and equipment up to -16.5% for iron and steel.

Portugal’s Top 10 Exports

A southwest European nation sharing its eastern border with Spain and its western coastline with the Atlantic Ocean, Portugal shipped US$61.5 billion worth of goods around the globe in 2020. That dollar amount reflects an 11.1% increase since 2016 but a -8.3% downtick from 2019 to 2020.

Based on the average exchange rate for 2020, Portugal uses the euro which appreciated by 3.1% against the US dollar since 2016 and increased by 2% from 2019 to 2020. The stronger EU currency made Portugal’s exports paid for in stronger US dollars relatively more expensive for international buyers.

From a continental perspective, 79.1% of Portugal exports by value were delivered to fellow European countries while 6% were sold to North American importers. Portugal shipped another 5.7% worth of goods to Africa. Smaller percentages also went to Asia (5.6%), Latin America excluding Mexico but including the Caribbean (2.1%) then Oceania led by Australia (0.3%).

The latest available country-specific data shows that 77.5% of products exported from Portugal were bought by importers in: Spain (25.5% of the global total), France (13.5%), Germany (11.8%), United Kingdom (5.7%), United States (5%), Italy (4.4%), Netherlands (3.7%), Belgium (2.3%), Angola (1.6%), Poland (1.4%), Brazil (1.4%) and Switzerland (1.2%).

Given Portugal’s population of 10.3 million people, its total $61.5 billion in 2020 exported goods translates to roughly $6,000 for every resident in the southwest European country.

The following export product groups represent the highest dollar value in Portuguese global shipments during 2020. Also shown is the percentage share each export category represents in terms of overall exports from Portugal.
Vehicles: US$8.6 billion (13.9% of total exports)
Electrical machinery, equipment: $5 billion (8.2%)
Machinery including computers: $4 billion (6.5%)
Plastics, plastic articles: $3.2 billion (5.1%)
Mineral fuels including oil: $2.9 billion (4.6%)
Knit or crochet clothing, accessories: $2.1 billion (3.4%)
Furniture, bedding, lighting, signs, prefabricated buildings: $2 billion (3.2%)
Paper, paper items: $1.9 billion (3.1%)
Optical, technical, medical apparatus: $1.8 billion (2.9%)
Footwear: $1.8 billion (2.9%)
Portugal’s top 10 exports accounted for 54% of the overall value of its global shipments.

Optical, technical and medical apparatus was the lone gainer among the top 10 export categories, up by 2.2% from 2019 to 2020.

The leading decliner among Portugal’s top 10 export categories was mineral fuels including oil thanks to its -30.2% drop year over year.

In terms of macroeconomics, Portugal’s total exported goods account for 18.1 percent of its overall GDP in 2020 ($339.9 billion in Purchasing Power Parity US dollars). In 2020, exports will account for 18.1 percent of total GDP in PPP terms, down from 21.8 percent the previous year. Based on a fairly short duration, this appears to show a significantly diminishing reliance on products sold on overseas markets for Portugal’s entire economic success.

The unemployment rate is another important measure of a country’s economic performance.
According to the International Monetary Fund, Portugal’s unemployment rate was 7.1 percent in December 2020, up from an average of 6.105 percent in 2020.

Lisbon is the capital of Portugal.

CLICK TO LIKE OUR FACEBOOK PAGE FOR MORE REGULAR UPDATES

YOU MIGHT LIKE THIS >>> Tips To Spot A Scam P2P Platform

Read Previous

These Could Be the Hottest Cryptocurrencies in 2022 Check Them Out!

Read Next

The World’s Leading Exporters of Agricultural Products

Leave a Reply

Your email address will not be published. Required fields are marked *