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Pair · Q2 2026 · Aug 2025–Jul 2026

Goods, bank claims, portfolio holdings and direct investment between Italy and Portugal, each channel at its own period. Left, Italy to Portugal; right, Portugal to Italy.

Finance to trade

positions ÷ goods, both directions
Finance to trade4.0×positions ÷ goods, both directions
Financial positions, both directions44.0USD bn
Goods, both directions11.0USD bn

Bank, and positions in both directions over goods trade in both directions; financial centres show very high ratios because they hold securities for others.

Positions at the periods above, goods in the 12-month window. Calculations: datasteg.

The pair through time

2006–Jul 2026

Each channel at its own period on one time axis: goods every month (12-month windows), bank claims every quarter, portfolio holdings every half year, direct investment every year, and below them the finance-to-trade ratio by quarter. Solid lines are reported flows, dashed stretches estimated; the band between a goods line and its other report is the mirror gap where both reports exist. A month with no goods line is one where the pair fell below trade-flow’s 1,500 largest flows.

SinceItaly → PortugalPortugal → Italyother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · 6.5 / 4.50510Bank claims · quarterly · USD bnQ2 2026 · 1.3 / –012Portfolio holdings · half-yearly · USD bnDec 2025 · 14.5 / 24.901325Direct investment · annual · USD bn2024 · 2.3 / 1.00510Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2026 · 4.0×0.0×5.0×10×20062008201020122014201620182020202220242026
Sources

The ratio starts in 2009, when the direct-investment survey begins: bank claims at the quarter, portfolio and direct investment at their latest period at or before it, goods in the 12 months to the quarter end. Calculations: datasteg global-network.

Goods Italy → Portugal

Aug 2025–Jul 2026

exports of Italy to Portugal, 12 months

Exports, 12 months6.5USD bnreported
0.93importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Goods Portugal → Italy

Aug 2025–Jul 2026

exports of Portugal to Italy, 12 months

Exports, 12 months4.5USD bnreported
1.07importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Italy → Portugal

Q2 2026

loans and deposits of banks in Italy on residents of Portugal

Position1.3USD bn
Flow in the quarter+0.1USD bnas published by the BIS
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Portugal → Italy

Q2 2026

loans and deposits of banks in Portugal on residents of Italy

Position–Not reported
Flow in the quarter–
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Italy → Portugal

Q4 2025

securities issued in Portugal held by investors in Italy

Total14.5USD bn
Equity0.3USD bn
Debt securities14.2USD bn
Sources

Holder to issuer, Q4 2025.

Portugal → Italy

Q4 2025

securities issued in Italy held by investors in Portugal

Total24.9USD bn
Equity0.2USD bn
Debt securities24.7USD bn
Sources

Holder to issuer, Q4 2025.

Italy → Portugal

2024

position of investors in Italy in Portugal

Position2.3USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.

Portugal → Italy

2024

position of investors in Portugal in Italy

Position1.0USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.