Portugal's trade deficit narrowed to 3.05 billion euros in July, while the deficit widened in the first seven months

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智通财经2026/09/09 10:51

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In July 2026, Portugal's trade deficit narrowed to 3.05 billion euros, compared to 3.45 billion euros in the same period last year. Export value increased by 6.5% to 7.4 billion euros, with fuel and lubricants exports surging 46.6% driven by rising energy prices and renewed US-Iran tensions. Industrial materials exports grew by 8.1%, capital goods such as machinery and equipment rose by 12.5%, while transportation equipment exports declined by 9.3%, mainly due to lower passenger car sales. Exports to Spain increased by 11%, while exports to the UK and the Netherlands fell by 10.3% and 12.1% respectively.
Imports grew by only 0.6%, with fuel and lubricants imports rising 42.7% and capital goods imports such as machinery and equipment increasing by 10.2%. Industrial materials imports fell by 14.2%, mainly due to reduced chemical imports. Imports from France, Spain, and Nigeria increased by 25.6%, 4.3%, and 584.8% respectively, while imports from Ireland dropped sharply by 81.2%.
In the first seven months of 2026, Portugal's trade deficit widened to 21.35 billion euros, compared to 18.87 billion euros in the same period last year.

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Portugal's trade deficit narrowed to 3.05 billion euros in July, while the deficit widened in the first seven months

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