Portugal and France
Portugal and France maintain strong economic and community ties. The friendship and cooperation treaty in force since April 2026 added follow-up mechanisms to that relationship.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07European and bilateral cooperation
Both countries cooperate in European and international affairs and have developed agreements on education, taxation, posted workers and health.
Industry and energy transition
Business activity includes automotive products and suppliers, aviation, chemicals, electronics, trade and renewable energies.
Treaty in force since April 2026
The treaty signed in February 2025 entered into force on April 12, 2026.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 19,919.88 M USD | 2025 · UN Comtrade / PRT |
| Goods: Portugal to France | 10,742.85 M USD | 2025 · UN Comtrade / PRT |
| Goods: France to Portugal | 9,177.03 M USD | 2025 · UN Comtrade / PRT |
| Services trade | ||
| Export share: Portugal to France | 12.01 % | 2025 · UN Comtrade / PRT |
| Export share: France to Portugal | ||
| Investment stock: Portugal in France | ||
| Investment stock: France in Portugal |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / PRT · Goods; full year; reporting country PRT. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Goods: Portugal to France
- 2025 · UN Comtrade / PRT · Goods; full year; reporting country PRT. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Goods: France to Portugal
- 2025 · UN Comtrade / PRT · Goods; full year; reporting country PRT. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Export share: Portugal to France
- 2025 · UN Comtrade / PRT · Goods share: PRT exports to the partner / exports by the same reporting country to the world, in the same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | Portugal | France |
|---|---|---|
| Nominal GDP | 346.64 billion USD2025 · WB | 3.37 trillion USD2025 · WB |
| GDP per capita | 32,081.81 USD2025 · WB | 48,985.73 USD2025 · WB |
| GDP growth | 1.86 %2025 · WB | 0.84 %2025 · WB |
| Policy interest rate | 2.5 %2026-09-16 · BCE | 2.5 %2026-09-16 · BCE |
| Inflation · annual average | 2.34 %Annual average · 2025 · WB | 0.94 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 3.6 %provisionalprovisionalYear-on-year · Sept. 2026 · INE PT | 3 %provisionalprovisionalYear-on-year · Sept. 2026 · Insee |
| Unemployment | 6.16 %ILO est.2025 · WB | 7.54 %ILO est.2025 · WB |
| Budget balance (% of GDP) | 0.3 %IMF est.2025 · IMF | -5.1 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 89.9 %IMF est.2025 · IMF | 116 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 1.2 %IMF est.2025 · IMF | -0.27 %2025 · WB |
| Population | 10,804,871World Bank est.2025 · WB | 68,720,3372025 · WB |
| Area | 92,230 km²2023 · WB | 606,410 km²2023 · BM / FAO |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDPortugal: 2025 · World BankFrance: 2025 · World Bank
- GDP per capita
- Current USD per personPortugal: 2025 · World BankFrance: 2025 · World Bank
- GDP growth
- Annual real change (%)Portugal: 2025 · World BankFrance: 2025 · World Bank
- Policy interest rate
- Central bank instrument (%)Portugal: 2026-09-16 · ECB: deposit facility; shared euro-area rate · European Central BankFrance: 2026-09-16 · ECB deposit facility; shared euro-area rate · European Central Bank
- Inflation · annual average
- Average annual change in headline CPI (%)Portugal: 2025 · Annual average change in the CPI (%) · World BankFrance: 2025 · Annual average change in CPI (%) · World Bank
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedPortugal: 2026-09 · Change in headline CPI from the same month of the previous year (%) · Portugal INE · Published: 2026-09-30 · provisional · Provisional · National headline CPI, year-on-year, not monthly inflation or an annual average. Provisional data or an official advance release; subject to revision.France: 2026-09 · Change in headline CPI from the same month of the previous year (%) · Insee · Published: 2026-09-30 · provisional · Provisional · National headline CPI, year-on-year, not monthly inflation or an annual average. Provisional data or an official advance release; subject to revision.
- Unemployment
- % of the labour force; definition used by the stated institutionPortugal: 2025 · World Bank · ILO est.France: 2025 · World Bank · ILO est.
- Budget balance
- General government (% of GDP)Portugal: 2025 · IMF — World Economic Outlook · IMF est.France: 2025 · IMF — World Economic Outlook · IMF est.
- Gross public debt
- General government (% of GDP)Portugal: 2025 · IMF — World Economic Outlook · IMF est.France: 2025 · IMF — World Economic Outlook · IMF est.
- Current account balance
- % of GDPPortugal: 2025 · IMF — World Economic Outlook · IMF est. · Current-account balance as a percentage of GDP; IMF WEO estimate for PRT.France: 2025 · World Bank
- Population
- PeoplePortugal: 2025 · World Bank · World Bank est. · Extrapolated estimate identified by the World Bank; not a census count for 2025.France: 2025 · World Bank
- Area
- Total area in km²; territorial coverage of the sourcePortugal: 2023 · Area according to the series' coverage; does not determine sovereignty or effective control · World BankFrance: 2023 · Total area, including inland waters; territorial coverage as defined by the source · World Bank · FAO
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Portugal to France
| Product or sector | Value / share |
|---|---|
| Vehicles and components | 1,507.5 M USD2025 · Source |
| Electrical and electronic equipment | 790.7 M USD2025 · Source |
| Machinery and mechanical appliances | 563 M USD2025 · Source |
| Pharmaceutical products | 178.5 M USD2025 · Source |
| Mineral fuels and oils | 61.9 M USD2025 · Source |
| Meat and edible offal | 38.1 M USD2025 · Source |
| Dairy products, eggs and honey | 30.1 M USD2025 · Source |
| Metal ores | 0 M USD2025 · Source |
France to Portugal
| Product or sector | Value / share |
|---|---|
| Vehicles and components | 2,245.1 M USD2025 · Source |
| Machinery and mechanical appliances | 1,086.8 M USD2025 · Source |
| Pharmaceutical products | 444.9 M USD2025 · Source |
| Electrical and electronic equipment | 398.8 M USD2025 · Source |
| Dairy products, eggs and honey | 115 M USD2025 · Source |
| Meat and edible offal | 102.7 M USD2025 · Source |
| Mineral fuels and oils | 28.1 M USD2025 · Source |
| Metal ores | 0.7 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | Portugal to France | France to Portugal |
|---|---|---|---|
| 2021 | 16,461.8 | 9,868 | 6,593.9 |
| 2022 | 17,320 | 10,248.7 | 7,071.3 |
| 2023 | 18,826.8 | 10,942.7 | 7,884.1 |
| 2024 | 18,086.5 | 9,990.8 | 8,095.7 |
| 2025 | 19,919.9 | 10,742.8 | 9,177 |
Connections between people
Communities and teaching of both languages are structural ties. Diaspora, nationality and consular register figures are not treated as interchangeable concepts. [3]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Portugal living in France | ||
| Residents from France living in Portugal | ||
| Study and training: Portugal in France | ||
| Study and training: France in Portugal | ||
| Academic stays: Portugal in France | ||
| Academic stays: France in Portugal | ||
| Travel: Portugal to France | ||
| Travel: France to Portugal |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
European and bilateral cooperation
Both countries cooperate in European and international affairs and have developed agreements on education, taxation, posted workers and health. French industrial presence in Portugal connects both markets. [1]
Industry and energy transition
Business activity includes automotive products and suppliers, aviation, chemicals, electronics, trade and renewable energies. Subsidiary establishment is distinguished from the value of goods exported during a year. [1]
Languages and communities
The treaty highlights the Portuguese diaspora's role in France and reciprocal human ties. Portuguese teaching in France and French teaching in Portugal was a priority of the July 2026 presidential meeting. [2]
The scale of both economies
Nominal GDP for Portugal is 346.6 billion USD (2025), compared with 3,366.3 for France (2025). The reference populations are 10.8 and 68.72 million, respectively. In the same year, the economy of Portugal was 0.1 times that of France in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [7] [8]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
Treaty in force since April 2026
The treaty signed in February 2025 entered into force on April 12, 2026. It covers security, the economy, education, culture and social affairs, and provides consultation mechanisms, including a high-level meeting. [3]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Portugal and France) totalled 19,919.9 million current USD. Shipments from the first to the second were 10,742.8 million; those in the opposite direction, 9,177 million. The difference between the two flows was 1,565.8 million, in favour of Portugal. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [4]
The partner's share of exports
Sales from Portugal to the partner represented 12.01% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [4]
Five years of trade trends
The consistent series shows 16,461.8 million USD in 2021 and 19,919.9 million in 2025. The change between the two endpoints was +21 % in current dollars. The highest annual value in the period was recorded in 2025, at 19,919.9 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [5]
Documented trade sectors
Within the selected chapters, vehicles and components stands out in shipments from Portugal to France, at 1,507.5 million USD in 2025. Within the selected chapters, vehicles and components stands out in shipments from France to Portugal, at 2,245.1 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [6]
Milestones and consequences
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations: FRA-PRT
France's Ministry of Foreign Affairs · Institutional source · Accessed: 2026-10-07
- Bilateral relations: FRA-PRT
Presidency of Portugal · Institutional source · Accessed: 2026-10-07
- Bilateral relations: FRA-PRT
France's Ministry of Foreign Affairs · Institutional source · Accessed: 2026-10-07
- Annual TOTAL X/M; 2025; reporter 620; partners 0,251
UN Comtrade / PRT · Institutional source · Accessed: 2026-10-07
- Trade series 2021–2025
UN Comtrade / PRT · Institutional source · Accessed: 2026-10-07
- Selected HS2 chapters; reporter 620; annual 2025; same partner/flow/coverage as total
UN Comtrade / PRT · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / PRT
2026-10-07 · Accessed: 2026-10-07 · Selected HS2 chapters; reporter 620; annual 2025; same partner/flow/coverage as total.