FX.co ★ Portugal Current Account Shifts to Deficit in November

In November 2025, Portugal experienced a current account deficit of €68.8 million, a substantial shift from the €201.3 million surplus observed in the same period a year prior. The trade deficit saw a deterioration amounting to €101 million, primarily resulting from a decline in exports coupled with an increase in imports. Specifically, imports of transport-related goods surged by €85.4 million. Simultaneously, the surplus in secondary income contracted by €118 million, a change largely influenced by a €144.8 million increase in Portugal's contributions to the European Union. Additionally, the primary income deficit expanded by €51 million, predominantly due to an upswing in property income payments to non-residents.