The Portuguese export market

According to data from the World Bank, Portugal is currently ranked as the 43rd largest exporter in the world..

.. accounting for approximately 0.4% of global exports in 2020. In 2020, Portugal exported a total of $62.2 billion worth of goods, with its top exports including vehicles, machinery, refined petroleum, plastics, and cork products.

Portugal's main trading partners are other European countries, with Spain being its largest export destination, followed by France, Germany, the United Kingdom, and the United States.

Overall, Portugal's export performance has been relatively stable in recent years, with moderate growth in both volume and value. However, like many other countries, Portugal's exports have been impacted by the COVID-19 pandemic, with a decline in exports in 2020 compared to the previous year.

According to data from the International Trade Centre, in 2020 Portugal's top 10 export destinations by value were:

1. Spain: $16.4 billion

2. France: $5.9 billion

3. Germany: $4.9 billion

4. United Kingdom: $3.7 billion

5. United States: $3.6 billion

6. Netherlands: $2.9 billion

7. Italy: $2.7 billion

8. Belgium: $2.2 billion

9. China: $1.8 billion

10. Switzerland: $1.3 billion

In terms of export volumes, the main products that Portugal exports to these countries vary. However, some of the top products exported by Portugal in 2020 were:

• Vehicles and parts

• Refined petroleum

• Cork and articles of cork

• Machinery and mechanical appliances

• Electrical equipment and parts

• Plastics and articles thereof

• Footwear

• Wood and articles of wood

• Food and beverages (including wine and olive oil)

• Textiles and textile articles

It is worth noting that the COVID-19 pandemic has impacted Portugal's exports, with some sectors such as tourism and hospitality experiencing significant declines.

However, overall, Portugal's export performance has remained relatively stable and diversified across a range of products and markets.