Portugal started brightly and won an early penalty when debutant Jane McMaster was adjudged to have handled the ball while she attempted to prevent Silva from connecting with Andreia Jacinto's low cross to the back post.
Encarnacao confidently sent her spot-kick into the bottom right-hand corner to give the visitors an eighth-minute lead.
Tatiana Pinto then curled a shot on to the roof of the net as Portugal looked to build on their early advantage.
Michael McArdle's side reacted well to the early setback and Rebecca McKenna was just inches away from connecting with Ellie Mason's inviting low delivery into the box.
However, just as Northern Ireland appeared to have weathered the early storm, they fell further behind.
In the 22nd minute, Encarnacao found space on the left and delivered an excellent pass into Silva's path and her first-time finish crashed off the crossbar and over the line.
Portugal continued to show their quality and, five minutes later, extended their advantage after defender Holloway misjudged Amado's cross and deflected the ball into her own net.
It was a much more positive second half from the hosts, but Jackie Burns was forced to make a great save early on to deny Silva her second of the evening.
Amado was then dismissed as, after already being on a yellow for throwing the ball away, she fouled lively debutant Kess Elmore 10 minutes later and was dismissed.
After the red card, Northern Ireland's confidence grew with Mason's strike forcing Ines Pereira to into a save.
Playing with 10 did not stop Portugal from adding a fourth with Pinto's effort from 30 yards catching Burns out as it nestled in the corner.
Substitute Chambers added to the home side's misery when she was sent off for a clumsy hair pull on Correia in the box.