The United States and Portugal have a robust trade relationship, exchanging a variety of goods across the Atlantic Ocean. Let’s explore the top 10 products that dominate the trade between these two nations. This article will provide insights into the most significant items exchanged, along with key statistics to help you understand the scale of this bilateral trade.
1. Petroleum and Petroleum Products
Petroleum and its derivatives are the most traded items between the USA and Portugal. This category includes both crude oil and refined petroleum products.
The United States exports large quantities of petroleum gas to Portugal, with exports reaching $870 million in 2023. This makes petroleum gas the top export from the USA to Portugal.
On the other hand, Portugal sends refined petroleum back to the United States. In 2023, Portugal exported $1.07 billion worth of refined petroleum to the USA, making it the largest export from Portugal to the United States.
2. Pharmaceutical Products
The pharmaceutical industry plays a significant role in the trade between these two countries.
Portugal exported $1.38 billion worth of pharmaceutical products to the United States in 2023. This category includes both packaged and unpackaged medicaments.
The USA also exports pharmaceutical products to Portugal, although in smaller quantities. The exchange of these products highlights the importance of the healthcare and pharmaceutical sectors in both countries.
3. Machinery and Mechanical Appliances
Machinery and mechanical appliances form another important category in the USA-Portugal trade.
The United States exported $160.33 million worth of machinery, nuclear reactors, and boilers to Portugal in 2024.
Portugal also exports machinery to the USA, with exports valued at $227.37 million in 2023.
4. Electrical and Electronic Equipment
Electronic goods are widely traded between the two countries.
In 2023, Portugal exported $349.28 million worth of electrical and electronic equipment to the United States.
The USA, known for its advanced technology sector, also exports electronic equipment to Portugal. In 2024, these exports were valued at $139.73 million.
5. Aircraft and Spacecraft
The aerospace industry contributes significantly to the trade between the USA and Portugal.
The United States, home to major aerospace companies, exported $431.09 million worth of aircraft and spacecraft to Portugal in 2024.
This category includes not only complete aircraft but also parts and components used in the aerospace industry.
6. Rubber Products
Rubber products, especially tires, are a key export from Portugal to the United States.
In 2023, Portugal exported $349.01 million worth of rubber products to the USA. A large portion of this was rubber tires, which amounted to $377 million in exports.
7. Agricultural Products
Agricultural goods are traded in both directions between the USA and Portugal.
The United States is a major exporter of soybeans to Portugal, with exports valued at $153 million in 2023.
Other agricultural products traded include cereals, with the USA exporting $67.16 million worth to Portugal in 2024.
8. Cork and Cork Products
Portugal is famous for its cork production, and this is reflected in its exports to the USA.
In 2023, Portugal exported $231.95 million worth of cork and cork products to the United States.
This trade highlights Portugal’s unique position as a major producer of cork, which is used in various industries from wine bottling to construction.
9. Textiles and Apparel
Textiles and clothing items are another significant category in the trade between these two countries.
Portugal exported $133.74 million worth of textile articles to the USA in 2023.
Additionally, knitted or crocheted apparel exports from Portugal to the USA were valued at $130.20 million in the same year.
10. Plastics and Plastic Products
Plastics round out our list of the top 10 traded products between the USA and Portugal.
The United States exported $90.52 million worth of plastics to Portugal in 2024.
Portugal also exports plastic products to the USA, contributing to the bilateral trade in this versatile material.