Immigration to Portugal has entered a phase of sharp slowdown after the peak recorded between 2022 and 2023.

In 2024 and throughout 2025, the number of foreign workers entering the country fell sharply, while departures continue to increase, outlining a clear reversal of the trend that has sustained the labour market in recent years.

According to ECO, based on analysis by the Bank of Portugal, entries of foreigners registered with Social Security decreased by 35% in the first eight months of 2025 compared to the same period in 2024, falling to a monthly average of around 12,000 people. At the same time, the migration balance has deteriorated rapidly, with the monthly peak falling by almost half in just two years, mainly reflecting the sharp drop in entries.

The newspaper also highlights that departures of foreigners have been trending in the opposite direction for seven consecutive years, having increased by almost 40% in 2024 and doubled compared to 2022. This exodus, which includes employed and skilled workers, poses a structural challenge to the Portuguese economy, which is increasingly dependent on immigration to respond to the aging population and the needs of the labour market.