Portugal-UK trade up €100 million in first three quarters of 2024

Total trade in goods and services (exports plus imports) between the UK and Portugal was £11.2Bn in the four quarters to the end of Q3 2024, an increase of 0.7% or £83 million (€100 million) in current prices from the four quarters to the end of Q3
2023.

Of this £11.2Bn:
• Total UK exports to Portugal amounted to £3.4Bn in the four quarters to the end of Q3 2024 (a decrease of 2.6% or £90 million in current prices, compared to the four quarters to the end of Q3 2023);
• Total UK imports from Portugal amounted to £7.9Bn in the four quarters to the end of Q3 2024 (an increase of 2.3% or £173 million in current prices, compared to the four quarters to the end of Q3 2023).

Portugal was the UK’s 28th largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.7% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Portugal was £4.2Bn accounting for 0.2% of the total UK outward FDI stock.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Portugal was £474 million, 12.5% or £68 million lower than in 2022. In 2023, Portugal accounted for less than 0.1% of the total UK inward FDI stock according to the UK’s Office for National Statistics.