Portugal Trade Gap Narrows In December

(RTTNews) - Portugal's trade shortfall decreased somewhat in December from a year ago as imports fell faster than exports, figures from Statistics Portugal showed on Monday.

The trade deficit dropped to EUR 2.9 billion in December from EUR 3.0 billion in the same month last year.

Exports fell 0.7 percent year-on-year in December, following a 1.5 percent fall in November. Imports declined 2.7 percent annually in December, slower than the 7.2 percent contraction in the previous month.

In the year 2025, the trade deficit of the country rose to EUR 32.1 billion from EUR 28.3 billion in 2024. Exports were 2.5 percent higher, and imports rose by 6.6 percent.

Transactions without transfer of ownership helped to mitigate the increase in the deficit, which reached EUR 32.3 billion, an increase of 3.54 billion compared to 2024. On the other hand, a deficit of EUR 26.8 billion in fuels and lubricants penalized the trade balance in 2025, the agency said.