Lisbon, Aug. 7, 2026 (Lusa) - Exports in 2025 rose by 0.1% and imports by 4.5%, resulting in a widening of Portugal's trade deficit by €4.757 billion, according to final figures released on Friday by Statistics Portugal (INE).

Compared with the preliminary figures released in June, «the final annual rates of change reflect revisions of -0.5 percentage points for exports and +0.4 percentage points for imports, resulting from the incorporation of additional information that has since become available», according to INE.

In addition to the international trade figures for June, the INE released the final figures for 2025, which show «annual changes of +0.1% in exports and +4.5% in imports, as well as a deterioration of €4.757 billion in the trade balance».

More specifically, exports rose by 0.1% in 2025 compared with 2024, to €78.968 billion. Imports, meanwhile, increased by 4.5% year-on-year, to €112.073 billion.

When transactions without transfer of ownership (TTOs) are excluded, exports fell by 2.1% and imports rose by 2.9% (+1.1% and +1.2% in 2024, respectively), highlighting the contribution of these transactions to the trend in both flows in 2025.

The trade deficit reached €33.106 billion in 2025, representing a year-on-year increase of €4.757 billion and a reduction in the coverage ratio to 70.5% (-3.1 percentage points).

«Transactions without transfer of ownership helped to mitigate the trade deficit in 2025: excluding this type of transaction, the deficit would have reached €33.406 billion, worsening by €4.640 billion compared with the previous year,» the report states.

Excluding fuels and lubricants, exports and imports increased by 2.0% and 7.2% respectively in 2025 (+1.5% and +3.1% in 2024, in the same order).

«This category of goods accounted for 16.0% of the trade deficit in 2025 (21.1% in 2024; 26.0% in 2023; 37.3% in 2022). Excluding this category, the deficit stood at €27.794 billion, an increase of €5.434 billion compared with 2024», it adds.

ALU/AYLS // AYLS

Lusa