Portuguese exports to the United States fell by 8.1% in the first half of the year while imports rose by 14.5% year-over-year, with sales to the country reaching their lowest value since 2023 in the second quarter.
Data from international trade released today by the National Statistics Institute (INE) indicated that in the first half of this year, the U.S. accounted for 6.2% of Portuguese exports and 2.2% of national imports.
As a result, the U.S. remained the fourth main customer for Portugal compared to the previous semester, but dropped to the 10th position among Portugal’s primary external suppliers.
Focusing solely on the second quarter of the year, Portuguese exports to the United States decreased by 199 million euros (-14.0%) year-over-year and 93 million euros (-7.1%) quarter-on-quarter, reaching the lowest value since the second quarter of 2023. Meanwhile, imports increased by 4.1% and 13.1%, respectively.
