Portuguese natural stone exports totaled 224.6 million euros in the cumulative period of the first half of 2026 (January to June), a year-on-year drop of 5.56% in value and 4.21% in volume (821 thousand tons), according to data from INE. The average price of exported products fell by 1.40% to 274 euros per ton, and the sector exported to 109 countries throughout the semester.
The month-by-month reading shows a semester marked by sharp fluctuations. After a year-on-year decline of 9.84% in January, the rate of contraction slowed down consistently until April, a month that closed with a drop of just 2.25%, the best record of the year up to that point. May abruptly interrupted this improvement: monthly exports totaled 38.4 million euros, a year-on-year drop of 13.24%, the sharpest of the semester. June brought the turnaround: with 40.5 million euros exported, the month recorded a year-on-year growth of 3.90% – the only positive month of the semester – which helped halt the worsening of the accumulated drop, which had reached 7.41% until May and closed the semester at 5.56%.
Analysis by destination market
Intra-EU markets maintain the largest share of exported value, accounting for 54.5% of the total (122.4 million euros), while non-EU markets represent the remaining 45.5% (102.1 million euros). Both aggregates declined compared to 2025, but unequally: the European Union contracted by 7.14%, almost double the non-EU decline (-3.59%). The EFTA block was closest to stability (-0.90%), while OPEC (-38.36%) and PALOP (-53.93%) maintained residual weights in total exports and recorded the sharpest drops. France remains the primary destination for national exports, with 20.9% of the total (46.9 million euros), but continues to be the top market with the largest contraction in value (-16.49%, 9.3 million euros less compared to the same period last year). China consolidated second place with 32.3 million euros and a growth of 8.03%, followed closely by Spain in third with 31.6 million euros (+11.06%). Together, the top three markets account for nearly half (49.4%) of national exports. Among the remaining top markets, the growth of India stands out (+51.63%, the largest year-on-year gain among the top 15 destinations), followed by the United Kingdom (+13.75%), as well as Spain and Belgium, both over 10%. Conversely, the United States fell by 17.60% and Saudi Arabia by 18.21%, with Denmark recording the largest drop among the top 15 destinations (-27.27%). Among smaller-scale markets, significant growths were seen in Canada (+162.55%), Israel (+99.39%), the Russian Federation (+76.88%), and Vietnam (+61.58%), albeit from low bases; Kuwait was the hardest-hit case, with a decline of 60.73%.
Analysis by stone type and segment
Limestone remains the dominant stone family, representing 28.0% of the total exported value (62.8 million euros), followed closely by granite (26.9%, 60.5 million euros) and marble (22.2%, 49.8 million euros). Porphyry and basalt (4.2%) and slate (1.6%) complete the basket, alongside an disaggregated component (17.1%) corresponding to tariff codes that do not allow direct identification of the stone type. In the segment analysis, processing clearly remains dominant in the value chain, representing 69.7% of the exported value, compared to 30.3% for extraction — a stable proportion compared to previous months, confirming the national sector’s positioning in creating added value.
A semester of two halves
The first half of 2026 was marked by two distinct moments: a progressive improvement between January and April, abruptly interrupted in May, and a recovery in June that halts, though does not reverse, the accumulated drop. The overall picture for the semester is not uniformly negative: product pricing remains globally stable, the sector maintained a broad base of 109 destination countries, and markets like India, the UK, Canada, or Israel continue to register express growth. It remains to be seen whether June marks the beginning of a sustained recovery or was an isolated positive month. A reading that only future bulletins will be able to confirm.
