Skip to content

Pair · Q2 2026 · Aug 2025–Jul 2026

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

Finance to trade

positions ÷ goods, both directions
Finance to trade5.0×positions ÷ goods, both directions
Financial positions, both directions93.7USD bn
Goods, both directions18.8USD 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.

SincePortugal → FranceFrance → Portugalother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · 9.0 / 9.801020Bank claims · quarterly · USD bnQ2 2026 · – / 17.102550Portfolio holdings · half-yearly · USD bnDec 2025 · 29.8 / 26.7050100Direct investment · annual · USD bn2024 · 4.0 / 16.101020Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2026 · 5.0×0.0×10×20×20062008201020122014201620182020202220242026
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 Portugal → France

Aug 2025–Jul 2026

exports of Portugal to France, 12 months

Exports, 12 months9.0USD bnspliced
–importer’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 France → Portugal

Aug 2025–Jul 2026

exports of France to Portugal, 12 months

Exports, 12 months9.8USD bnreported
–importer’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.

Portugal → France

Q2 2026

loans and deposits of banks in Portugal on residents of France

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.

France → Portugal

Q2 2026

loans and deposits of banks in France on residents of Portugal

Position17.1USD bn
Flow in the quarter−1.4USD bnas published by the BIS
Sources

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

Portugal → France

Q4 2025

securities issued in France held by investors in Portugal

Total29.8USD bn
Equity2.1USD bn
Debt securities27.7USD bn
Sources

Holder to issuer, Q4 2025.

France → Portugal

Q4 2025

securities issued in Portugal held by investors in France

Total26.7USD bn
Equity4.8USD bn
Debt securities21.9USD bn
Sources

Holder to issuer, Q4 2025.

Portugal → France

2024

position of investors in Portugal in France

Position4.0USD bn
Reportthe host’s
Sources

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

France → Portugal

2024

position of investors in France in Portugal

Position16.1USD bn
Reportthe host’s
Sources

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