The Bank of Portugal published a statistical information note on direct investment for the first quarter of 2025, including an expanded analysis of United States direct investment in Portugal. The release reports outward direct investment from Portugal of EUR 1.3 billion and net foreign direct investment into Portugal of -EUR 1.1 billion. Outward investment was concentrated in European counterparties, led by the Netherlands (EUR 0.8 billion), Spain (EUR 0.2 billion) and Germany (EUR 0.1 billion). The negative inward figure was driven mainly by a EUR 1.2 billion reduction in intra-group debt; on an immediate-counterparty basis, Spain contributed -EUR 3.1 billion, partly offset by inflows from Luxembourg (EUR 0.4 billion), Belgium (EUR 0.3 billion) and France (EUR 0.3 billion). Direct investment income paid to non-residents totalled EUR 2.1 billion, while income received from non-residents was EUR 0.6 billion. On a final-investor basis, the stock of US direct investment in Portugal reached EUR 11.4 billion at end-Q1 2025 (5.7% of total), with only 34% invested directly and the remainder largely channelled via Luxembourg (39%) and the Netherlands (12%); US investment was predominantly equity (95% in Q1 2025), with real estate within equity rising to 15% (EUR 1.7 billion). The next update is scheduled for 26 August 2025.
Bank of Portugal 2025-05-27
Bank of Portugal publishes Q1 2025 direct investment statistics showing US final-investor stock at EUR 11.4 billion
The Bank of Portugal released a statistical note on Q1 2025 direct investment, highlighting EUR 1.3 billion in outward investment and -EUR 1.1 billion in net foreign direct investment into Portugal. Outward investment focused on European countries, with the Netherlands, Spain, and Germany as key recipients. The negative inward figure was largely due to a EUR 1.2 billion reduction in intra-group debt, with significant outflows to Spain.