United States (USA) and Portugal (PRT) Trade

2022

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Exports $3.24BRnk 57 / 219

2022

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About

United States-Portugal In 2022, United States exported $3.24B to Portugal. The main products that United States exported to Portugal are Petroleum Gas ($1.78B), Crude Petroleum ($329M), and Soybeans ($141M). During the last 27 years the exports of United States to Portugal have increased at an annualized rate of 3.95%, from $1.14B in 1995 to $3.24B in 2022.

In 2017, United States exported services to Portugal worth $997M, with Travel ($439M), Transportation ($215M), and Financial services ($128M) being the largest in terms of value.

Portugal-United States In 2022, Portugal exported $5.66B to United States. The main products that Portugal exported to United States were Refined Petroleum ($1.15B), Unpackaged Medicaments ($432M), and Rubber Tires ($361M). During the last 27 years the exports of Portugal to United States have increased at an annualized rate of 6.03%, from $1.16B in 1995 to $5.66B in 2022.

In 2020, Portugal exported services to United States worth $1.21B, with Transportation ($416M), Other business services ($378M), and Travel ($358M) being the largest in terms of value.

Comparison In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.41), and 2 in total exports ($1.95T). That same year, Portugal ranked 40 in the Economic Complexity Index (ECI 0.58), and 48 in total exports ($81.7B).

COMPANIES In 2023, leading companies such as IKEA SUPPLY AG (593k), WAL-MART INC. (89.4k), and ROBERT BOSCH TOOL CORPORATION (51.9k) were at the forefront of exporting goods from Portugal to the United States. Conversely, FRIUL INTAGLI INDUSTRIES SPA (171k), IKEA INDUSTRY PORTUGAL, LDA (163k), and FRIUL INTAGLI INDUSTRIES S.P.A. (107k) were notable for importing Portugal products to the United States.

Latest Trends

January, 2024

About

Overview In January 2024, United States exported $213M and imported $410M from Portugal, resulting in a negative trade balance of $196M. Between January 2023 and January 2024 the exports of United States have decreased by $-6.17M (-2.81%) from $219M to $213M, while imports decreased by $-85M (-17.2%) from $495M to $410M.

Trade In January 2024, the top exports of United States to Portugal were Crude Petroleum ($84.7M), Petroleum Gas ($54M), Aircraft Parts ($12.4M), Commodities not elsewhere specified ($7.81M), and Ethylene Polymers ($6.47M). In January 2024 the top imports of United States from Portugal were Refined Petroleum ($114M), Rubber Tires ($24M), Unpackaged Medicaments ($23.6M), Packaged Medicaments ($18.2M), and Leather Footwear ($13.6M).

Origins In January 2024 the exports of United States were mainly from Texas ($117M), Louisiana ($29M), Indiana ($10.2M), Pennsylvania ($7.42M), and Florida ($6.4M), while imports destinations were mainly New Jersey ($111M), California ($44.6M), New York ($28.9M), South Carolina ($25.2M), and Texas ($23.6M).

Growth In January 2024, the decrease in United States's year-by-year exports to Portugal was explained primarily by an decrease in product exports in Gas Turbines ($-10.6M or -97.5%), Surveying Equipment ($-1.45M or -98.9%), and Electrical Control Boards ($-1.18M or -89%). In January 2024, the decrease in United States's year-by-year imports from Portugal was explained primarily by an decrease in product imports in Packaged Medicaments ($-10.4M or -36.5%), Chemically Pure Sugars ($-5.11M or -57.2%), and Agglomerated Cork ($-3.61M or -60.3%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)$-6.17M(-2.81%)

IMPORT GROWTH (January 2023 - January 2024)$-85M(-17.2%)

MAIN EXPORTER (January 2024)Texas$117M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Portugal and United States trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United States exported $3.24B to Portugal. The main products exported from United States to Portugal were Petroleum Gas ($1.78B), Crude Petroleum ($329M), and Soybeans ($141M). During the last 27 years the exports of United States to Portugal have increased at an annualized rate of 3.95%, from $1.14B in 1995 to $3.24B in 2022.

In 2022, Portugal exported $5.66B to United States. The main products exported from Portugal to United States were Refined Petroleum ($1.15B), Unpackaged Medicaments ($432M), and Rubber Tires ($361M). During the last 27 years the exports of Portugal to United States have increased at an annualized rate of 6.03%, from $1.16B in 1995 to $5.66B in 2022.

Exports from United States () to Portugal () (2022)

Exports from Portugal () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Portugal
Top DestinationSpain$20.5B

This map shows whether countries import more from United States or Portugal. Each country is colored based on the difference in imports they receive from United States and Portugal or the difference in the growth in imports.

In 2021, countries that imported more from United States than Portugal were Canada ($308B), Mexico ($294B), and China ($151B).

In 2021, countries that imported more from Portugal than United States were Angola ($1.59B), Gibraltar ($561M), and Cape Verde ($407M).

Difference in imports from Portugal () and United States () (2022)

Comparative Advantage United States - Portugal

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between United States and Portugal by product, considering products traded by both, United States and Portugal.

During 2022, United States had a large net trade with Portugal in the exports of Mineral Products ($2.17B), Machines ($223M), and Transportation ($192M).

During 2022, Portugal had a large net trade with United States in the exports of Mineral Products ($1.2B), Chemical Products ($785M), and Machines ($640M).

Service Trade

Bilateral Service Trade

Prt Year

Usa Year

In 2017, United States exported services to Portugal worth $997M, with Travel ($439M), Transportation ($215M), and Financial services ($128M) being the largest in terms of value.

In 2020, Portugal exported services to United States worth $1.21B, with Transportation ($416M), Other business services ($378M), and Travel ($358M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Portugal () (2017)

Services Exports from Portugal () to United States () (2020)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more United States has comparative advantage over Portugal. Similarly, the more yellow a dot/product is, the more Portugal has comparative advantage over United States.

Product Space of United States () and Portugal () (2022)

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