葡萄牙20年期国债 (Portugal20Y) 加自选

2025年8月，葡萄牙的贸易逆差从一年前的26.7亿欧元扩大到29.8亿欧元，出口下降1.3%，至51.0亿欧元的四年低点。下降的主要原因是燃料和润滑油（-25.6%），部分被运输设备（+10.8%）抵消。按目的地划分，对西班牙（-5.8%）和荷兰（-22.2%）的出口下降，主要原因是燃料和润滑油，对德国（-9.9%）的进口下降，主要是机械和其他资本货物。然而，对美国的出口增长了36.5%，主要是与加工贸易（不转移所有权的订单工作）相关的工业供应。进口增长3.1%，至80.8亿欧元，受工业用品（+19.4%）和运输设备（+18.7%）采购的支撑，而燃料和润滑油进口下降（-28.5%）。从原产地来看，来自爱尔兰的进口激增了615.9%，主要是与加工贸易相关的工业供应，而来自德国的进口增长了22.2%，主要受飞机和乘用车的推动。

Portugal’s trade deficit widened to €2.98 billion in August 2025, up from €2.67 billion a year earlier, as exports fell 1.3% to a four-year low of €5.10 billion. The decline was driven mainly by fuels and lubricants (-25.6%), partially offset by transport equipment (+10.8%). By destination, exports dropped to Spain (-5.8%) and the Netherlands (-22.2%), largely due to fuel and lubricants, and to Germany (-9.9%), mainly machinery and other capital goods. Exports to the US, however, rose 36.5%, led by industrial supplies mostly linked to processing trade (work on order without transfer of ownership). Imports increased 3.1% to €8.08 billion, supported by purchases of industrial supplies (+19.4%) and transport equipment (+18.7%), while imports of fuels and lubricants fell (-28.5%). By origin, imports from Ireland surged 615.9%, largely industrial supplies linked to processing trade, while imports from Germany rose 22.2%, driven mainly by airplanes and passenger cars.