Includes Portugal real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Portugal economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Portugal best banks and safest banks are also available.
Basic Information
Government Type: Semi-presidential republic
Capital City: Lisbon
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
Bank of Portugal |
---|---|
Currency |
Euros (EUR) |
International Reserves |
USD 29.46 billion (2020) World Bank, last updated 12/16/2021 |
Gross Domestic Product – GDP |
USD 251.71 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 376.09 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017 3.5% 2018 2.8% 2019 2.7% 2020 –8.4% (Estimate) 2021 4.4% (Estimate) |
---|---|
GDP per capita – current prices |
USD 24,457.14 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 36,542.63 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (PPP) – share of world total |
0.26% (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP – composition by sector |
agriculture: 2.0% industry: 19.2% services: 66.1% (2020 estimate) |
Gross domestic expenditure on R&D; (% of GDP) |
1.4% (2019) |
Inflation |
2017 1.6% 2018 1.2% 2019 0.3% 2020 –0.1% (Estimate) 2021 1.2% (Estimate) |
Portugal
Inflation & Debt
Inflation |
2017 1.6% 2018 1.2% 2019 0.3% 2020 –0.1% (Estimate) 2021 1.2% (Estimate) |
---|---|
Government Bond Ratings |
Standard & Poor’s: BBB Moody’s: Baa2 Standard & Poor’s / Moody’s (January 2022) |
Unemployment rate |
2017 9.2% 2018 7.2% 2019 6.6% 2020 7% (Estimate) 2021 6.9% (Estimate) |
Household saving rates |
3.5% (2020) |
Public debt (General government gross debt as a % of GDP) |
2017 126.1% 2018 121.5% 2019 116.6% 2020 135.2% (Estimate) 2021 130.8% (Estimate) |
Public deficit (General government net lending/borrowing as a % of GDP) |
2017 0.7% 2018 2.9% 2019 2.9% 2020 –3% (Estimate) 2021 –2.3% (Estimate) |
Market value of publicly traded shares |
USD 61.9 billion (2018) |
Largest Companies |
Edp-energias De Portugal, Jeronimo Martins, Galp Energia, Banco Comercial Portugues Forbes Global 2000 (2021) |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
37% (2020) World Bank – World Development Indicators (updated Feb 2022) |
---|---|
Shares in world total merchandising export | 0.35% (2020) |
Shares in world total commercial services export | 0.5% (2020) |
Total exports | USD 85.2 billion (2020 estimate) |
Export commodities |
Cars and vehicle parts, refined petroleum, leather footwear, paper products, tires (2019) |
Total imports |
USD 89.2 billion (2020 estimate) |
Import commodities |
Cars and vehicle parts, crude petroleum, aircraft, packaged medicines, refined petroleum, natural gas (2019) |
Exports – major partners |
Spain 23%, France 13%, Germany 12%, United Kingdom 6%, United States 5% (2019) |
Imports – major partners |
Spain 29%, Germany 13%, France 9%, Italy 5%, Netherlands 5% (2019) |
Competitiveness & Trade
Current account balance |
USD -4.2 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
---|---|
Current account balance by percentage of GDP |
-1.7% (2021 estimate) IMF – World Economic Outlook, October 2021 |
FDI inflows |
2019 USD 7.1 billion 2020 USD 12.1 billion 2021 USD 6.3 billion |
FDI Outflows |
2019 USD 799 million 2020 USD 3.3 billion 2021 USD 2.3 billion |
Value of cross-border M&A, by country of purchaser |
2015 USD -2.5 billion 2016 USD 544 million 2017 USD -829 million 2018 USD 1.2 billion |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 39 out of 190 countries (2020) Starting a Business: 63 out of 190 countries Dealing with Construction Permits: 60 out of 190 countries Getting Electricity: 52 out of 190 countries Registering Property: 35 out of 190 countries Getting Credit: 119 out of 190 countries Protecting Minority Investors: 61 out of 190 countries Paying Taxes: 43 out of 190 countries Trading across Borders: 1 out of 190 countries Enforcing Contracts: 38 out of 190 countries Resolving Insolvency: 15 out of 190 countries World Bank – Doing Business 2020 |
Global competitiveness ranking |
34 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 31 / Score: 70.8 (Mostly Free) The Heritage Foundation – 2022 Index of Economic Freedom |
Population & Geographic Data
Time Zone |
UTC 0 |
---|---|
Total Area |
92,090 sq km |
Total Population |
1990 9.98 million 2000 10.29 million 2010 10.57 million 2015 10.36 million 2020 10.31 million |
Urban population as % of total population |
1960 35.0% 1980 42.8% 2000 54.4% 2020 66.3% |
Population median age | 44.6 years (2022 estimate) |
Population growth rate | -0.2% (2022 estimate) |
Life expectancy |
81.5 years (2022 est.) |
% of population living on less than $3.10 a day |
0.2% (last available estimate, 2019) |
Inequality of wealth distribution (Gini index) |
32.8 (last available estimate, 2019) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Total score: 95/100 Status: Free Political Rights: 39/40 Civil Liberties: 56/60 (2022) |
Total telephone subscribers as % of population |
Fixed: 51.1% Mobile: 116.3% (2020) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
78.3% (2020) |
Language & Religon
Languages |
Portuguese (official), Mirandese (official, but locally used) |
---|---|
Literacy |
Total population: 96.1% Male: 97.4% Female: 95.1% (2018) Definition: age 15 and over can read and write |
Religions |
Roman Catholic 81%, other Christian 3.3%, other (includes Jewish, Muslim) 0.6%, none 6.8%, unspecified 8.3% (2011 est.) |
World Rankings
Population | 10.31 M |
---|---|
Mercer Cost of living index | N/A |
C02 Emissions per capita |
4.8 metric tons per capita (2018) |
Global Finance Rankings & Awards: Portugal
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000