U.S. exports to Portugal experience significant increase
Portugal's Trade Relationship with the United States Shows Notable Changes in Q1 2025
Data from the National Statistics Institute reveals that Portuguese exports increased by 7.7% year-on-year in the first three months of 2025, while imports rose by 7%. However, a closer look reveals an escalating trade relationship with the United States, seemingly impacted by tariffs.
U.S. imports into Portugal exhibited a 30.5% surge between January and March compared to the previous year. The American market's influence on total Portuguese imports expanded from 1.8% to 2.2%.
The most significant growth was in grain imports, which increased by 44,305.9% over the same quarter in 2024, going from €95.9 thousand to €42.6 million. Now, this single product accounts for 7.2% of total goods imported from the U.S.
Excluding fuels and mineral oils, imports of machinery and equipment rose by 253.2%, while aircraft and special equipment increased by 951%.
In March, an 115.8% year-on-year increase in imports stood out, although it declined by 28.9% month-on-month.
Portuguese exports to the United States fell marginally by 1.8% compared to the first quarter of 2024, totaling 1.313 billion euros. The U.S.'s share of total Portuguese exports dropped from 6.8% in Q1 2024 to 6.2% in Q1 2025.
Significant growth was noted in pharmaceutical products by 32.1% (amounting to €463.8 million), making up 35.3% of total exports to the U.S., and in furniture and mattresses, which increased by 31.9% to €39.2 million.
However, drops occurred in mineral fuels and mineral oils by 43.8% and in electrical machines, equipment, and materials, nuclear reactors, boilers, and machines, cast iron, iron, or steel works, and cast iron, iron, and steel by 19.6%, 19%, 13%, and 18.3%, respectively.
Month-on-month, Portuguese exports to the United States decreased by 8.6% in annual terms, to €565 million, but rose by 34.8% in monthly terms.
A closer examination of theEnrichment Data suggests that while there were notable increases in pharmaceuticals and furniture exports, the machinery and equipment sector faced challenges, with decreases in March, particularly with exports to Spain. The data did not mention specific details on grain imports or exports.
In summary, while the pharmaceuticals and furniture sectors saw growth, the machinery and equipment sector experienced challenges, and there was no significant mention of grain imports or exports in the provided data.
Portugal's growing industry sector, particularly in pharmaceuticals and furniture, contributed to an increase in exports to the United States, despite a small decline in overall exports compared to Q1 2024. Meanwhile, the U.S. finance sector, reflected in the surging American grain imports (€42.6 million), played a significant role in Portugal's Q1 2025 imports, accounting for 7.2% of the total.
