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Imports and Exports in Portugal

Updated on Thursday 15th July 2021

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Imports and Exports in Portugal.jpgPortugal has a complex economy and the exports are in accordance with the main developed industries, directing the country on the 46th place among countries worldwide. The trading activities in Portugal have a major impact on the economy and comply with the international rules and regulations. If you are interested in opening a trading company in Portugal, we remind that our company formation specialists in Portugal can help.
 

Exports of Portugal

 
Spain, US, Germany, UK, Italy, the Netherlands, and France are top export destinations of Portugal. Petroleum products, chemicals, cars, leather, food, beverages, and medication are among products which are sent from Portugal to countries from Europe and also from other continents. 
 
Due to the numerous investment possibilities in the trading sector in Portugal, entrepreneurs choose to set up their import and export activities in the Portuguese market and benefit from numerous advantages. Businessmen interested in opening companies in the import and export sector in Portugal are invited to ask for information and guidance from our company formation agents in Portugal. Furthermore, an entrepreneur can set up a company in Portugal and receive varied advantages among which we mention the company registration in Portugal which is an easy process.
 
We present you some interesting facts and figures about the exports in Portugal:
 
  • In terms of total exports, Portugal ranked 45th out of 225 countries in the world, in 2019.
  • The export of cars for the same year worth around USD 4,73 billion, followed by vehicle parts worth nearly USD 3,30 billion.
  • Leather footwear, and uncoated paper took the road of Spain, France, UK, and Germany in 2019.
  • Agglomerated cork was the biggest export of Portugal in 2019, summing up to around USD 534 million.
 

Imports of Portugal

 
Vehicle parts, textiles, industrial machinery, natural gas, agricultural products, chemical, and plastics are significant products imported from outside Portugal. Countries like Spain, France, Germany, Austria, the Netherlands or China are the main importers for Portugal. We remind that special licenses and permits are necessary if you want to start a business in the trading field in Portugal. Please keep in mind that our advisors can help you open a trading company in Portugal and can explain the entire procedure step by step. Here are some figures about the imports in Portugal:
 
  • In 2019, Portugal imported cars worth around USD 5.11 billion, followed by crude petroleum worth around USD 4.71 billion.
  • Vehicle parts worth nearly USD 3.03 billion and spacecraft parts worth around USD 3.34 billion were other imported items in 2019.
  • Most imported products in Portugal came from countries like Spain, Germany, Italy, the Netherlands, and France.
  • Raw cork worth nearly USD 131 million was the biggest import of Portugal in the same year.
 

Why open an import and export company in Portugal?

 
Once you have obtained the special licenses and permits with the support of our team of consultants, you can start your activities in the trading sector in Portugal. The country is an old trading partner of numerous countries worldwide, due to its excellent geographic location with exits at the Atlantic Ocean. The infrastructure is well developed and numerous projects have been adopted in this important sector which will help the trading businesses grow. Furthermore, the economy in Portugal has shown numerous signs of recovery with the help of various reforms in the country’s key industries, including the import and export section.
 

Short overview of imports and exports for March 2020- March 2021

 
The statistics for March 2020 – March 2021 show that Portugal imported products worth around EUR 6.81 billion and exported items of nearly EUR 5.81 billion. Most of the exported products took the road to Spain, the products summing up to around EUR 1,43 billion. As for the imports of Portugal for the same period, Spain remained the main business partner, with imported items worth nearly EUR 2.15 billion.
 

EORI for trading companies in Portugal

 
Companies engaged in import and export activities must first obtain the EORI number. This is the Economic Operator Registration and Identification code imposed by the European Union for better customs control. The EORI number is unique for each company with activities in the trading field in Portugal, so if you plan to start such a business, you should solicit the support of our company formation agents in Portugal. Here are the main requirements for obtaining the EORI number in Portugal:
 
  • The formalities for EORI require the VAT certificate.
  • The Certificate of Incorporation is another needed document.
  • The Portuguese trade Register will issue a document showing the trading company is registered in this country.
  • Other relevant forms offered by the registration authorities will be provided.
  • There is no need for more than one EORI number for your trading company in Portugal.
 
We invite you to talk to our company formation agents in Portugal and solicit our help for EORI registration for your company in this country. Our specialists can manage the formalities for this kind of code and also for business formation in Portugal.
 

Short information about customs rules in Portugal

 
Portugal is part of the European Union, so it aligns with the customs regulations imposed. Having all the documents with information about the imported or exported products is required. The customs declaration must be made in respect with the EU Decision 2014/255 and submitted to the relevant authorities. More about the customs declarations for import and export activities and about the ways in which a trading company can be registered in Portugal can be discussed with our agents.
 

Reasons to invest in Portugal

 
Portugal already hosts a large number of foreign companies that benefit from a stable and highly appreciated business climate. The experienced and multilingual workforce, the simplified company formalities, varied appealing incentives to attract and support foreign investments, plus a great tax system are a few of Portugal’s attributes in terms of investments. 
 
Fields like IT, automotive, manufacturing, energy, engineering, tourism, and agriculture are among the preferred business sectors for both local and international players who want to generate profits in Portugal. We present you some interesting facts and figures about the economy in Portugal:
 
  1. Portugal is known for being the second-largest solar power station in the world, offering a wide range of business possibilities to investors.
  2. An investment of EUR 350,000 grants citizenship in approximately 6 years, to non-EU nationals.
  3. The 2020 Doing Business report ranked Portugal 39th out of 190 worldwide countries in matters of simplified business formalities and more.
  4. The technology-driven investments are sustained in a large percent by the free zones in Portugal.
  5. Nearly USD 162 billion represented the total FDI stock for Portugal in 2019.
 
We remind that if you want to know more details about the legislation related to the trading activities in Portugal and the possibilities of opening a company in this area, you are invited to contact our team of company formation agents in Portugal.
 
 
 

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Call us now at +351 21 020 0969  to set up an appointment with our lawyers in Lisbon, Portugal. Alternatively you can incorporate your company without traveling to Portugal. As our client, you will beneficiate from the joint expertize of local lawyers and international consultants. Furthermore we offer you the following:

- cost-efficiency: competitive company formation prices;

- prompt response to your inquiry (maxim 24 hours);

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