Portugal-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $9.56B total volume •Portugal deficit: $1.86B
Portugal → Italy
$3.85B
Exports (2023)
Italy → Portugal
$5.71B
Imports (2023)
Trade Balance
$1.86B
Deficit for Portugal
Total Trade
$9.56B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Portugal and Italy. Green line shows exports from Portugal, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Portugal-Italy commercial relationship and competitive positioning in global markets.
Portugal → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Portugal's export portfolio to Italy demonstrates strong diversification across multiple sectors, with vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc representing a key competitive advantage in this bilateral market.
Italy → Portugal Imports
Import Dependency Profile
📦 Import Strategy Analysis
Portugal's import pattern from Italy reveals strategic sourcingin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Portugal demonstrates competitive strength in exportingvehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $9.56B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Portugal-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $9.56 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Portugal maintains a deficit of $1.86 billion
- Export Focus: Portugal's primary exports include vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc, cigarettes: containing tobacco, vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc
- Import Dependencies: Key imports from Italy include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, telephones for cellular networks or for other wireless networks, tobacco: homogenised or reconstituted
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $9.56B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Portugal leveraging its comparative advantages in vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Portugal's specialization in vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cccomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $9.56B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $9.56B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $9.56 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Portugal's trade deficit of $1.86 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Portugal and Italy represents a total trade volume of $9.56 billion in 2023. This partnership demonstrates an unfavorable trade balance for Portugal, with imports exceeding exportsby $1.86 billion.
Export Strengths
Portugal's exports to Italy total $3.85 billion, with competitive advantages in vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc, representing $268.61M or7.0% of bilateral exports.
Import Dependencies
Imports from Italy amount to $5.71 billion, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising3.1% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Portugal's strategic sourcing from Italy. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Portugal and Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023