Morocco Falls Out of Top Ten Import Sources for Portugal
Recent data published by the National Institute of Statistics in Portugal has revealed a significant shift in the country's import landscape, with Morocco dropping out of the list of the top ten nations receiving Portuguese exports this year. This decline is particularly noteworthy as it comes at the expense of Angola, which has moved up to the 14th position among the largest importers of Portuguese goods, as of the end of last year. This shift underscores the evolving dynamics of trade relationships and market preferences.
The statistics indicate a troubling trend for Portuguese exports, particularly to Germany and Spain. In the early months of this year, exports to Germany decreased by over 44%, while shipments to Spain fell by approximately 7.4%. These declines have largely been attributed to reduced industrial supplies and a downturn in the export of fuels, lubricants, and other industrial products. Overall, the total value of Portuguese exports has seen a year-on-year decrease of more than 14%, with imports also experiencing a decline of around 2.5%. This has led to a trade deficit of €2.51 billion, highlighting the challenges faced by the Portuguese economy in the current global market.
Specifically, data for the three months ending in January 2026 shows that exports fell by 5.6% compared to the same period last year. This downturn is primarily linked to the performance of industrial supplies and fuel, which saw declines of 8.5% and a staggering 40.1%, respectively. Notably, the National Institute of Statistics has highlighted a sharp drop in the export of industrial supplies at the beginning of January, exceeding 27%. This decline is largely due to a previous surge in chemical product exports to Germany during the same period last year, primarily driven by specific requests that did not involve ownership transfers.
Additionally, there has been a significant reduction in the export of fuels and lubricants, which fell by more than 33% due to a combination of a 25.5% drop in traded quantities and a price decrease exceeding 10%. This situation may also be related to the halt in operations at several national refinery units during the last months of 2025. On the import side, industrial supply imports also decreased by 11.6%, with notable reductions in imports from Ireland (approximately 86%) and the Netherlands (38.9%) year-on-year. Imports from the United States have also seen a marginal decline of 0.9% at the start of this year, reaching a value of €2.3 billion, with a significant 23.6% drop recorded in the last quarter of the previous year, amounting to only €166 million.
As reported by hespress.com.
