Importing from Portugal - Trade Finance Global

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Importing from Portugal

Last updated on 04 Aug 2024
13 Mar 2019 . 2 min read

Portugal Country Profile

Official Name (Local Language) Republica Portuguesa

Capital Lisbon

Population 10,833,816

Currency Euro

GDP $205.9 billion

Languages Portuguese; Mirandese

Phone Dial In 351

Portugal Exports Profile

Exports ($m USD) 62,170

Number of Export Products 4,217

Number of Export Partners 211

Portugal Economic Statistics






Government Website
https://www.portugal.gov.pt/
Sovereign Ratingshttps://countryeconomy.com/ratings/portugal
Central BankBanco de Portugal
Currency USD Exchange Rate0.9214
Unemployment Rate10.2%
Population below poverty line19%
Inflation Rate0.8%
Prime Lending Rate0%
GDP$205.9 billion
GDP Pro Capita (PPP)$28,500
Currency NameEuro
Currency CodeEUR
World Bank ClassificationHigh Income
Competitive Industrial Performance46/138
Corruption Perceptions Index29/180
Ease of Doing Business34/190
Enabling Trade Index28/136

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Importing from Portugal

Portugal’s largest exports are cars, motor vehicle parts, and clothing goods. Additionally, Portugal is the world’s largest exporter of corks (more than €1 billion annually). The primary export partners of Portugal are Spain, Italy, France and Germany. Portugal is the 43th largest exporter in the world and the 47th largest economy in the world.

Importing from Portugal: What is trade finance?

Trade finance is a revolving facility in which lenders offer financing options – it enables businesses to purchase products and can help ease the pressure from working capital issues.

Generally, an export finance bank will fund up to 100% of the cost of the products, including charges (e.g. insurance costs).

Trade finance offers upsides over more traditional bank financing, for example bridging mortgages or loans. Trade finance provides quick funding without affecting existing bank relationships.

How does it work?

If you’re a business importing or exporting goods around the world, then a trade finance facility would assist your company through offering a letter of credit (LC) or some form of cash advance.

I’m looking to import from Portugal, how can Trade Finance Global help, and how does it work?

If you’re looking to import inventory from other countries, you may require import finance, which is an agreement between yourself (the importer) and the foreign exporter. A non-bank lender will act as the intermediary, paying the foreign exporter on your behalf until you get the products and have then sold them to your buyer. Repaying the financier then occurs over an agreed period of time.

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Portugal

Agriculture

2.4%

Grain, potatoes, tomatoes, olives, grapes; sheep, cattle, goats, pigs, poultry, dairy products; fish

Industry

21.9%

Textiles, clothing, footwear, wood and cork, paper and pulp, chemicals, fuels and lubricants, automobiles and auto parts, base metals, minerals, porcelain and ceramics, glassware, technology, telecommunications; dairy products, wine, other foodstuffs

Services

75.9%

Travel Transportation Other business services Computer and information services Communications services Construction services Financial services Cultural and recreational services Government services Insurance services Royalties and license fees

Map

Top 5 Exports Partners

CountryTrade% Partner Share
Spain15,67025.21
France7,77712.51
Germany7,04111.33
United Kingdom
4,1176.62
United States
3,2135.17

Top 5 Exports Products

Export ProductNumber
Petroleum oils, etc, (excl. crude); preparation
6.1%
Paper… (excl. mechanical fibres), weighing >=
5.0%
Automobiles with diesel engine displacing more
3.9%
Motor vehicle parts nes
3.1%
New pneumatic tyres, of rubber of a kind used o
2.2%

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