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Significar vs. querer dizer

In Portuguese, both significar and the phrase querer dizer translate to to mean, but they are not always interchangeable. Significar is generally more formal and deals with definitions and inherent meanings, while querer dizer is more conversational and relates to a speaker's intention or clarification.

Significar

A2
This verb is used for more objective, factual, or inherent meanings, similar to what you would find in a dictionary. It refers to what a word, symbol, or action represents or denotes in a general sense. It can also be used to talk about the importance or consequence of something.
A palavra 'saudade' é difícil de traduzir porque significa muito mais que apenas 'sentir falta'.
(The word saudade is hard to translate because it means much more than just to miss.)
O anel no dedo dela significa que ela é casada.
(The ring on her finger means that she is married.)
Este novo contrato significa mais responsabilidade para todos.
(This new contract means more responsibility for everyone.)
O que a luz vermelha no painel do carro significa?
(What does the red light on the car's dashboard mean?)
Seu apoio significa o mundo para mim.
(Your support means the world to me.)
Silêncio nem sempre significa consentimento.
(Silence does not always mean consent.)

Querer dizer

B1
This phrase, which literally translates to to want to say, is used to ask for clarification about what a person intends to convey. It is used to rephrase, explain an idea, or interpret someone's words or actions. It's about the speaker's specific intention or the implied meaning in a particular context.
O que você quer dizer com 'talvez'?
(What do you mean by maybe?)
Ele disse que está ocupado, mas o que ele quer dizer é que não quer sair.
(He said he is busy, but what he means is that he doesn't want to go out.)
Eu não gosto do filme. Quero dizer, a atuação é boa, mas a história não faz sentido.
(I don't like the movie. I mean, the acting is good, but the story doesn't make sense.)
Isso não quer dizer que seu trabalho seja ruim, apenas precisa de alguns ajustes.
(That doesn't mean your work is bad, it just needs some adjustments.)
Quando ela diz 'vamos ver', geralmente quer dizer não.
(When she says 'we'll see', she usually means no.)
Espere, você quer dizer que o voo foi cancelado?
(Wait, do you mean the flight was cancelled?)

Summary

In essence, use significar for formal definitions, symbols, and consequences (What does this word/symbol represent?). Use querer dizer when seeking clarification on someone's intention or rephrasing an idea (What do you intend to say with that?). While significar is about objective meaning, querer dizer is about subjective intent and interpretation.