Portugal


Portugal Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Portugal; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bank of Portugal
Portugal is part of the Eurosystem and the European Central Bank
International Reserves US$ 20.801 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 220.569 billion (2010 estimate)
GDP (Purchasing Power Parity) 243.97 billion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
2% 0.7% -0.9% 1.6% 0.8% 1.4% 2.4% 0%
2009 2010 2011 2012*
-2.9% 1.4% -1.5% -3.3%

*Estimate

GDP per capita - current prices US$ 20,661 (2010 estimate)
GDP per capita - PPP $22,853 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.44% 0.47% 0.43% 0.33% 0.27%

**Forecast

GDP - composition by sector
  • agriculture: 2.5% 
  • industry: 22.8% 
  • services: 74.8% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) 1.59% (2010)

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
-0.9%(2008) 1.4% 3.6% 3.2%

*Estimate

Unemployment rate
2009 2010 2011 2012*
9.5% 10.8% 12.7%(2009) 14.4%

*Estimate

Household saving rates 9.8% (Gross saving; 2012 forecast)

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
71.6% 83.1% 93.4% 106.8% 112.4%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-3.7% -10.2% -9.8% -4% -4.5%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB

Moody's rating: Ba3

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$98.65 billion US$82 billion US$61.69 billion
Largest companies in Portugal EDP-Energias de Portugal (Electric Utilities), Jeronimo Martins (Food Retail), Sonae (Food Retail), Galp Energia (Oil & Gas Operations), Banco Comercial Português (Regional Banks), Banco BPI (Regional Banks), Portugal Telecom (Telecommunications services) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -9.2 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP -4.2% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

31% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.32%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.63% (2011)(2007)

(Data were released in 2012)

Total exports US$57.8 billion (2012 estimate) 
Export commodities agricultural products, food products, wine, oil products, chemical products, plastics and rubber, hides, leather, wood and cork, wood pulp and paper, textile materials, clothing, footwear, machinery and tools, base metals
Total imports US$67.03 billion (2012 estimate) 
Import commodities agricultural products, chemical products, vehicles and other transport material, and optical and precision instruments, computer accessories and parts, semi-conductors and related devices, oil products, base metals, food products, textile materials
Exports - major partners Spain 25.1%, Germany 13.7%, France 12.1%, Angola 5.5%, UK 5.1% (2011)
Imports - major partners Spain 31.7%, Germany 12.4%, France 6.9%, Italy 5.4%, Netherlands 4.8% (2011)
FDI inflows
2009 2010 2011
US$2,706 million US$2,646 million(2009) US$10,344 million(2009)
FDI outflows
2009 2010 2011
US$816 million US$-7,493 million US$12,639 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$1,164 million US$1,236 million(2009) US$-8,965 million(2009) US$2,404 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 30 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 31 out of 185 countries(2009)

Enforcing Contracts: 22 out of 185 countries

Registering Property: 30 out of 185 countries

Getting credit: 104 out of 185 countries

Protecting investors: 49 out of 185 countries

Trading across border: 17 out of 185 countries

Paying Taxes: 77 out of 185 countries

Dealing with Construction Permits: 78 out of 185 countries

Getting Electricity: 35 out of 185 countries

Resolving Insolvency: 23 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
49

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 68 Score: 63.0 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC 0
Total area 92,090 km2 (2006)
Capital Lisbon (2009)
Currency euros (EUR) (2009)
Government type republic; parliamentary democracy (2009)
Languages Portuguese (official), Mirandese (official - but locally used)
Religions Roman Catholic 84.5%, other Christian 2.2%, other 0.3%, unknown 9%, none 3.9% (2001 census)
Total population
1980 1990 2000 2012* 2017**
9.77 million 10 million 10.2 million 10.66 million 10.7 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
35% 42.8% 54.4% 61%
Population median age 41 years (2010)
Population growth rate 0% (2011)
Life expectancy 79 years (2010)
Adult literacy 95% (2005/2010)
% of population living on less than $2 a day N/A
Inequality of wealth distribution (Gini index)

38.45 (1997)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

157.25% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 55.3% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Lisbon: 86th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

5.386 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Banco Espirito Santo (National, 2013)
2012:
  • COUNTRY WINNERS Banco Espirito Santo (National, 2012)
2011:
  • COUNTRY WINNERS Banco Espirito Santo (2011)
2010:
  • COUNTRY WINNERS Banco Espirito Santo (Global, 2010)
2009:
  • COUNTRY WINNERS Banco Espirito Santo (National, 2009)

WORLD'S BEST DEVELOPED MARKET BANKS

(ranking of the 50 safest banks in the world; the first is the safest)
2012:
  • Banco Santander Totta (Abdullah Saud Al-Thani, 2012)
2011:
  • Banco Santander Totta (National, 2011)
2010:
  • Banco Santander Totta (Global, 2010)
2009:
  • Banco Espirito Santo (National, 2009)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Consumer Internet Banks Activo Bank (2012)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Banco Espirito Santo (BES) (National, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Activo Bank (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Banco Espírito Santo (BES) (2011)
2010:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Central and Eastern Europe, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks Millennium BCP (National, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Banco Espirito Santo (National, 2009)

WORLD'S SAFEST BANKS

2009:
  • OVERALL SAFEST Caixa Geral de Depositos (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS Banco Espírito Santo (BES) (National, 2012)
2011:
  • COUNTRY WINNERS Banco Espírito Santo (BES) (National, 2011)
2010:
  • COUNTRY WINNERS Banco Espírito Santo (BES) (Middle East, 2010)
2009:
  • COUNTRY WINNERS Banco Espírito Santo (BES) (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2013:
  • COUNTRY WINNERS Espírito Santo Investment Bank (National, 2013)
2012:
  • COUNTRY WINNERS CaixaBI (National, 2012)
2011:
  • COUNTRY WINNERS CaixaBI (Central and Eastern Europe, 2011)
2010:
  • COUNTRY WINNERS CaixaBI (Global, 2010)
2009:
  • COUNTRY WINNERS CaixaBI (National, 2009)

CENTRAL BANKER REPORT CARD

2010:

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Banco Santander Totta (Global, 2013)
2012:
  • COUNTRY WINNERS Banco Santander Totta (National, 2012)
2011:
  • COUNTRY WINNERS Banco Santander Totta (National, 2011)
2010:
  • COUNTRY WINNERS Millennium bcp (Saud Al-Thani, 2010)
2009:
  • COUNTRY WINNERS Millennium bcp (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE