Germany was one of the main suppliers of goods to Portugal in 2022

The year 2022 registered an increase in international exports (23.1%) and imports (31.2%), compared to 2021, according to data from the National Statistics Institute (INE). However, in the last month of the year, exports and imports of goods registered some nominal year-on-year variations, compared to November 2022, reflecting a deceleration in prices. These fluctuations may have been influenced by the strikes that took place in national ports in December last year.

There were increases in exports of machinery and other capital goods, fuels and lubricants, and also in imports of transport equipment. On the other hand, imports of industrial supplies decreased.

International trade in exports, both in December 2022 and in the same month in 2021, placed Spain, France, Germany, the United States, the United Kingdom, Italy, the Netherlands, Belgium, Angola and Poland as the main client countries. Regarding imports, the main supplier countries were Spain, Germany, France, the Netherlands, Italy, China, Belgium, Brazil, the United States and Poland.

As far as Portugal is concerned, Germany gained a prominent position in exports and imports. From 2018 to 2022, it was the third main client country and the second main external supplier of goods to Portugal. In turn, Portuguese exports to Germany increased by 21.7% last year, compared to 2021, reaching €8,532 million, the highest value between 2018 and 2022.

As for the Portuguese companies that exported goods to Germany, 6% had a degree of exposure to the country greater than 80%, which corresponds to 14% of national exports to this destination. Most Portuguese enterprises that exported goods to Germany in 2022 concentrated up to one fifth of their exports in this market. This figure corresponds to 25% of total national exports to this country.