In May 2026, exports and imports of goods recorded year-on-year nominal changes of +5.1% and -1.6%, respectively (+15.4% and +9.0%, in the same order, in April 2026). When transactions without transfer of ownership (TTE) are excluded, i.e., transactions with a view to or following processing, there were increases in both flows: +4.2% in exports and +5.1% in imports (+16.9% and +15.4%, respectively, in April 2026). The trade deficit in goods amounted to EUR 2,811 million, down EUR 514 million compared with May of the previous year. However, excluding TTE, the trade deficit increased by EUR 198 million, totalling EUR 2,884 million.
In May 2026, the unit value index (prices) of exports continued the upward trajectory observed in the previous months, recording a positive change of 5.9% (+3.2% in April 2026 and -2.3% in May 2025). Imports recorded their second consecutive positive rate (+7.9%; +2.6% in April 2026 and -3.6% in May 2025).
With the provisional application of the Agreement between the European Union and the Mercosur bloc of countries that began on 1 May 2026, this press release includes an analysis of international trade in goods between Portugal and those countries (Argentina, Brazil, Paraguay, and Uruguay), focusing on trends in trade and the main products traded.
