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 bankBank of Portugal
Portugal is part of the Eurosystem and the European Central Bank
International ReservesUS$ 22.532 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 236.146 billion (2010 estimate)
GDP (Purchasing Power Parity)245.968 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
3.9%2%0.7%-0.9%1.6%0.8%1.4%2.4%
2008200920102011*
0%-2.5%1.4%-1.5%

*Estimate

GDP per capita - current pricesUS$ 22,157 (2010 estimate)
GDP per capita - PPP$23,078 International Dollars (2010 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.44%0.47%0.43%0.33%0.28%

**Forecast

GDP - composition by sector
  • agriculture: 2.7% 
  • industry: 23% 
  • services: 74.3% (2009 estimate)

    • (Data released on November 2010)

Gross domestic expenditure on R&D (% of GDP)1.51% (2008)

(Data released on November 2010)

Inflation
2008200920102011*
2.7%(2008)-0.9%1.4%2.4%

*Estimate

Unemployment rate
2008200920102011*
7.7%9.6%11%(2009)11.9%

*Estimate

Household saving rates8.4% (Gross saving; 2011 forecast)

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
62.7%65.4%76.1%83.3%90.6%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-2.8%-2.8%-9.3%-7.3%-5.2%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: A-/Negative/A-2

Moody's rating: A1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$132.258 billionUS$68.713 billionUS$98.65 billion
Largest companies in PortugalEDP-Energias de Portugal (Electric Utilities), Galp Energia (Oil & Gas Operations), Portugal Telecom (Telecommunications services), BCP-Banco Com Português (Regional Banks), Jeronimo Martins (Food Retail)
(2011)
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -20.6 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP-8.7% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

32.9% (2008)

(Data released on December 2010)

Shares in world total merchandising export0.32%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.62%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$46.27 billion f.o.b. (2010 estimate)
Export commoditiesagricultural products, food products, oil products, chemical products, plastics and rubber, skins and leather, wood and cork
Total importsUS$87.92 billion f.o.b. (2008 estimate)
Import commoditiesagricultural products, food products, oil products, chemical products, plastics and rubber, skins and leather, wood and cork, wood pulp and paper, textile materials, clothing, footwear, minerals and mineral products, base metals, machinery and tools, vehi
Exports - major partnersSpain 27.1%, Germany 12.9%, France 12.3%, UK 5.9%, US 4.8%, Angola 4.5%, Italy 4% (2007)
Imports - major partnersSpain 29.5%, Germany 12.9%, France 8.4%, Italy 5.2%, Netherlands 4.6% (2007)
FDI inflows
200820092010
US$4,665 millionUS$2,706 million(2009)US$1,452 million(2009)
FDI outflows
200820092010
US$2,741 millionUS$816 millionUS$-8,608 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$1,164 millionUS$1,236 million(2009)US$-8,885 million(2009)US$2,426 million
Cross-border M&A deals worth over $3 billion completed in 2008

(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 2010

(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 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 31 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 59 out of 183 countries(2009)

Registering property: 31 out of 183 countries

Paying Taxes: 73 out of 183 countries

Getting credit: 89 out of 183 countries

Protecting investors: 44 out of 183 countries

Trading across border: 27 out of 183 countries

Enforcing Contracts: 24 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		45

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 69 Score: 64 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC 0
Total area 92,090 km2 (2006)
CapitalLisbon (2009)
Currencyeuros (EUR) (2009)
Government typerepublic; parliamentary democracy (2009)
LanguagesPortuguese (official), Mirandese (official - but locally used)
ReligionsRoman Catholic 84.5%, other Christian 2.2%, other 0.3%, unknown 9%, none 3.9% (2001 census)
Total population
1980199020002010*2015**
9.77 million10 million10.2 million10.64 million10.71 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
35%42.8%54.4%60.1%
Population median age39.0 years (2006)
Population growth rate0.1% (2009)
Life expectancy78 years (2007)
Adult literacy95% (2000/2007)
% of population living on less than $2 a dayN/A
Inequality of wealth distribution (Gini index)

38.5 (1997)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2010)

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

Total telephone subscribers as % of population

184.34% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population51.1% (Data were released in 2011 and refer to 2010)
Cost of living 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)

5.2739 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST FOREIGN EXCHANGE BANKS

2010:
  • COUNTRY WINNERS Millennium bcp (National, 2010)
2009:
  • COUNTRY WINNERS Millennium bcp (National, 2009)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

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

WORLD'S BEST DEVELOPED MARKET BANKS

2011:
  • Banco Santander Totta (National, 2011)
2010:
  • Banco Santander Totta (National, 2010)
2009:
  • Banco Espirito Santo (Europe, 2009)

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Activo Bank (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Banco Espirito Santo (BES) (National, 2011)
2010:
  • COUNTRY WINNERS / Best Corporate/Institutional Internet Banks Citi (National, 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 (Global, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • COUNTRY WINNERS Banco Espírito Santo (BES) (National, 2011)
2010:
  • COUNTRY WINNERS Banco Espírito Santo (BES) (National, 2010)
2009:
  • COUNTRY WINNERS Banco Espirito Santo (BES) (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2011:
  • COUNTRY WINNERS Caixa BI (National, 2011)
2010:
  • COUNTRY WINNERS Caixa BI (National, 2010)
2009:
  • COUNTRY WINNERS Caixa BI (National, 2009)

CENTRAL BANKER REPORT CARD

2010:

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2011:
  • COUNTRY WINNERS Banco Santander Totta (National, 2011)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE