Portugal's trade engine roars back to life in Q2 of 2026

The rise was highlighted in the latest flash estimate for international trade in goods by Statistics Portugal.

They climbed 10% in nominal terms compared to the same period last year.

It is an encouraging return as exports had dipped by 6.5% in Q1. It demonstrates the resilience and adaptability of Portuguese exporters, who have capitalised on improving international demand and strengthened trade relationships.

Even when stripping out TTE transactions (goods processed without a transfer of ownership), exports still posted a solid 2.7% increase - a meaningful acceleration from the near-flat 0.9% growth recorded in the first quarter.

This reflects genuine, broad-based improvement in Portugal's core export activity.

Imports also grew robustly, rising 8.2% in nominal terms year-on-year.

Rising imports are often a healthy sign of a dynamic economy: businesses importing more raw materials, components and capital goods typically point to expanding production and investment, while stronger consumer imports can reflect growing household confidence and spending power.

This marks a considerable acceleration from the 2.7% import growth seen in Q1 2026, underscoring the gathering pace of economic activity across the country.

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