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Portugal’s trade deficit narrowed to EUR 1.95 billion in February 2025, down from EUR 2.44 billion in the same month of 2024, as exports saw a strong rebound. Overseas sales jumped 11.9% to EUR 7.30 billion, driven by higher shipments of industrial supplies (37.3%), along with gains in capital goods and parts (9.8%) and consumer goods (5.6%). Exports were up to Germany (73.4%), the U.S. (24.0%), Spain (5.9%) and France (2.1%). Imports rose at a more modest pace of 3.3% to EUR 9.26 billion, fueled by increased purchases of consumer goods (9.8%), capital goods and parts (4.8%), and fuels and lubricants (6.7%). On a country basis, imports were notably higher from China (30.4%) and France (15.6%), while imports from Ireland dropped sharply by 36.7%.