Portugal's external balance on goods and services (constant LCU) was -3.84 billion in 2025, the latest year in the World Bank's World Development Indicators. That is down 218.03% from 3.25 billion in 2015.
Key figures
| Value | Year | |
|---|---|---|
| Latest | -3.84 billion | 2025 |
| Five years earlier | -4.01 billion | 2020 |
| Ten years earlier | 3.25 billion | 2015 |
| Highest | 6.18 billion | 2013 |
| Lowest | -11.42 billion | 1999 |
| Average since 2016 | 143.39 million | 2016–2025 |
| First recorded | -218.23 million |
What the numbers say
In 2025, Portugal's external balance on goods and services (constant LCU) fell 4.09 billion on 2024 (from 257.02 million to -3.84 billion).
Across the 30 yearly changes before that (1995 to 2024), the average change was +139.15 million and a typical year strayed about 2.72 billion from that (the standard deviation). This year's change was 1.6 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 8.02 billion in 2011 and the biggest yearly fall was 6.47 billion in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2016 to 2025 the straight-line trend is downward, about 616 million a year. A straight line explains 33% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2025, Portugal had the 44th highest value of the 95 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Portugal in the 2025 ranking
- Kosovo — 41st of 95: -2.01 billion
- Montenegro — 42nd of 95: -2.05 billion
- São Tomé and Principe — 43rd of 95: -2.57 billion
- West Bank and Gaza — 45th of 95: -3.92 billion
- Seychelles — 46th of 95: -4.14 billion
- El Salvador — 47th of 95: -6.8 billion
What this measures
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 56 values
| Year | External balance on goods and services (constant LCU) |
|---|---|
| 2025 | -3,835,739,000 |
| 2024 | 257,023,000 |
| 2023 | 1,671,063,000 |
| 2022 | -260,375,000 |
| 2021 | -4,673,884,000 |
| 2020 | -4,013,840,000 |
| 2019 | 2,456,143,000 |
| 2018 | 3,226,219,000 |
| 2017 | 3,566,915,000 |
| 2016 | 3,040,417,000 |
External balance on goods and services (constant LCU) in nearby economies
More economic policy & debt data for Portugal
- Total reserves, including gold (current US$) — US$68.84 billion (2025)
- Total reserves, excluding gold (current US$) — US$15.1 billion (2025)
- GDP (current US$) — US$346.64 billion (2025)
- GDP (current LCU) — 306.77 billion (2025)
- GDP (constant 2015 US$) — US$246.9 billion (2025)
- GDP (constant LCU) — 243.72 billion (2025)
- GDP per capita (current US$) — US$32,082 (2025)
- GDP per capita (current LCU) — 28,391 (2025)
- GDP per capita (constant 2015 US$) — US$22,851 (2025)
- GDP per capita (constant LCU) — 22,556 (2025)
- GNI (current US$)
Reading data like this
Questions people ask
- What is Portugal's external balance on goods and services (constant LCU)?
- -3.84 billion in 2025, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is down 1,658% from -218.23 million in 1970. The highest value was 6.18 billion in 2013 and the lowest -11.42 billion in 1999.
- How does Portugal rank?
- 44th highest of 95 economies with data for 2025.
- Is the latest change in external balance on goods and services (constant LCU) unusual for Portugal?
- In 2025, Portugal's external balance on goods and services (constant LCU) fell 4.09 billion on 2024 (from 257.02 million to -3.84 billion). Across the 30 yearly changes before that (1995 to 2024), the average change was +139.15 million and a typical year strayed about 2.72 billion from that (the standard deviation). This year's change was 1.6 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator NE.RSB.GNFS.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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