Portugal

Portugal ranked No. 56 in total trade value through May with a total of $2.34 billion. Exports totaled $629.6 million and Imports totaled $1.71 billion, a deficit of $1.08 billion.

Data loading...
Data loading...

U.S. trade with Portugal rose to $1.99 billion through May

Portugal’s trade with the United States rose to $1.99 billion through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 7.77 percent above its total trade during the same time period last year. U.S. exports to Portugal decreased 5.55 percent while U.S. imports from Portugal rose 13.93 percent. The U.S. deficit with Portugal was $888.69 million.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 Christiansted Port Terminal, U.S. Virgin Islands; No. 3 Chicago O’Hare International Airport; No. 4 Port of Houston; and No. 5 Port of Charleston. During the same period the previous year, the top five were No. 1 Port of Newark; No. 2 Port of New Haven, Conn.; No. 3 John F. Kennedy International Airport; No. 4 Port of Houston and No. 5 Port of Virginia. In the current time period, the top five accounted for 47.75 percent of Portugal’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark rose 12 percent to $524.5 million.
    Exports fell 48.77 percent to $45.07 million. Imports rose 26.06 percent to $479.42 million.
  • Trade with No. 2 Christiansted Port Terminal, U.S. Virgin Islands totaled $174.74 million.
    Exports totaled $1 million. Imports totaled $173.74 million.
  • Trade with No. 3 Chicago O’Hare International Airport rose 80.71 percent to $158.36 million.
    Exports rose 97.76 percent to $71.99 million. Imports rose 68.6 percent to $86.37 million.
  • Trade with No. 4 Port of Houston rose 29.33 percent to $134.58 million.
    Exports rose 226.46 percent to $41.2 million. Imports rose 2.13 percent to $93.39 million.
  • Trade with No. 5 Port of Charleston rose 26.68 percent to $125.98 million.
    Exports fell 38.71 percent to $9.13 million. Imports rose 38.2 percent to $116.85 million.

Portugal ranked No. 56 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 60.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Portugal by value through May were the categories of LNG, other petroleum gases; Civilian aircraft, parts; Misc. aircraft parts; Oil; and Plasma, vaccines, blood, respectively. They accounted for 57.83 percent of total exports to Portugal.

The value of the top five categories of U.S. imports from Portugal –– Gasoline, other fuels; Misc. natural cork; Rubber tires; Medicines in individual dosages; and Olive oil –– accounted for 39.58 percent of all inbound shipments.

Looking more closely at U.S. exports to Portugal:

  • LNG, other petroleum gases rose 10 percent compared to last year to $148.65 million.
  • Civilian aircraft, parts fell 40.58 percent compared to last year to $72.43 million.
  • Misc. aircraft parts rose 61.66 percent compared to last year to $65.83 million.
  • Oil totaled $61.41 million. The previous year, there were no exports in this category.
  • Plasma, vaccines, blood rose 3638.84 percent compared to last year to $15.77 million.

Looking more closely at U.S. imports from Portugal:

  • Gasoline, other fuels rose 14.79 percent compared to last year to $440.35 million.
  • Misc. natural cork rose 18.4 percent compared to last year to $74.43 million.
  • Rubber tires fell 8.03 percent compared to last year to $55.67 million.
  • Medicines in individual dosages fell 41.56 percent compared to last year to $54.82 million.
  • Olive oil rose 632.73 percent compared to last year to $52.34 million.

In the latest annual figures available, Portugal recorded $5.61 billion in trade with the United States. Total U.S. exports to Portugal were $ 1.72 billion and imports from Portugal were $3.89 billion. The U.S. deficit with Portugal was $2.17 billion.