葡萄牙6个月期国债 (Portugal6M) 加自选

PSI 20指数升至7518.00点的11年高点。在过去的4周里，PSI 20上涨了5.2%，在过去的12个月里，它上涨了12.29%。

PSI 20 increased to a 11-year high of 7518.00 Index Points. Over the past 4 weeks, PSI 20 gained 5.2%, and in the last 12 months, it increased 12.29%.

葡萄牙的贸易逆差从一年前的24亿欧元扩大到2025年4月的30.2亿欧元，创下历史第三大缺口。出口下降5.7%，至64.7亿欧元，其中燃料和润滑油出口大幅下降32.9%，导致广泛下降。在主要贸易伙伴中，对西班牙的出口显著下降（-3.1%），主要是由于工业供应减少；荷兰（-15.6%），燃料、润滑油和工业供应大幅下降；意大利（-9.5%），主要反映了运输设备的暴跌。与此同时，进口增长2.4%，达到94.9亿欧元。爱尔兰是一个突出的贡献者，其进口激增792.2%，主要是由于工业供应，尤其是化学产品，主要与不涉及所有权转让的合同制造交易有关。考虑到1月至4月，贸易逆差增至92.7亿欧元，而2024年同期为83.6亿欧元。

Portugal’s trade deficit widened to €3.02 billion in April 2025, up from €2.40 billion a year earlier, marking the third largest gap on record. Exports declined by 5.7% to €6.47 billion, with broad-based decreases led by a sharp 32.9% drop in fuel and lubricant exports. Among major trading partners, notable declines were recorded in exports to Spain (-3.1%), mainly due to lower industrial supplies; the Netherlands (-15.6%), driven by steep falls in fuels, lubricants, and industrial supplies; and Italy (-9.5%), largely reflecting a plunge in transport equipment. Meanwhile, imports rose 2.4% to €9.49 billion. A standout contributor was Ireland, where imports surged by 792.2%, primarily due to industrial supplies—especially chemical products—linked largely to contract manufacturing transactions that do not involve a transfer of ownership. Considering January to April, the trade deficit increased to €9.27 billion, compared with €8.36 billion in the same period of 2024.

葡萄牙零售贸易增长在2025年4月同比放缓至2.1%，低于3月份的4.0%，因为几个类别的势头减弱。食品销售额增长略有放缓，从6.6%降至6.0%，而非食品销售额在上个月增长3.6%后下降了0.5%。在非食品领域，服装和鞋类销售额暴跌11.6%（下降4.9%），在线销售额下降8.6%（下降11.7%）。药品销售额的增长速度也较慢，与3月份的5.7%相比，增长了4.6%。与此同时，燃料销售下降0.8%，较上月2.9%的下降有所缓和。4月份零售额环比下降0.2%，3月份下降0.6%。

Portugal’s retail trade growth slowed to 2.1% year-on-year in April 2025, down from 4.0% in March, as momentum weakened across several categories. Food sales growth eased slightly to 6.0% (from 6.6%), while non-food sales declined by 0.5% following a 3.6% increase in the previous month. Within the non-food segment, clothing and footwear sales plunged 11.6% (vs. a 4.9% decline), and online sales fell 8.6% (vs. 11.7%). Sales of pharmaceutical products also grew at a slower pace, rising 4.6% compared to 5.7% in March. Meanwhile, fuel sales declined 0.8%, softening from a 2.9% drop in the prior month. On a monthly basis, retail sales fell 0.2% in April, following a 0.6% decrease in March.

2025年4月，葡萄牙工业生产同比下降2.2%，此前4月下降5.4%，制造业在下降4.8%后暴跌3.1%。另一方面，电力、天然气（1.7%对-9%）以及水和卫生设施（2.9%对-0.6%）的产出出现反弹。与上月相比，工业生产增长1.2%，从3月份3.9%的下降中反弹

Industrial production in Portugal decreased 2.2% year-on-year in April 2025, following a 5.4% drop in April, dragged by a 3.1% plunge in the manufacturing sector, after a 4.8% decline. On the other hand, a rebound was seen in the output for electricity, gas (1.7% vs -9%) and water and sanitation (2.9% vs -0.6%). Compared to the previous month, industrial production rose 1.2%, rebounding from a 3.9% fall in March