| COUNTRIES | GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Portugal Economy 2011
https://theodora.com/wfb2011/portugal/portugal_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















GEOGRAPHICAL NAMES Spanish Simplified Chinese French German Russian Hindi Arabic Portuguese



Page last updated on January 12, 2011

Economy - overview:
Portugal has become a diversified and increasingly service-based economy since joining the European Community in 1986. Over the past two decades, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the European Monetary Union (EMU) in 1998 and began circulating the euro on 1 January 2002 along with 11 other EU member economies. Economic growth had been above the EU average for much of the 1990s, but fell back in 2001-08, shrank 2.6% in 2009, before growing 1% in 2010. GDP per capita stands at roughly two-thirds of the EU-27 average. A poor educational system and a rigid labor market have been obstacles to greater productivity and growth. Portugal also has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a target for foreign direct investment. Portugal's competitiveness problems, low growth prospects, and high levels of public debt have made it vulnerable to bond market turbulence. Lisbon is implementing austerity measures to reduce the budget deficit from 9.4% of GDP in 2009 to 4.6% of GDP in 2011, but some investors have expressed concern about Portugal's ability to achieve these targets and cover its sovereign debt. Without the option for stimulus measures, the government is focusing instead on boosting exports and implementing labor market reforms to try to raise GDP growth and tackle Portugal's competitiveness problems, which may help mitigate investor concerns over time.

GDP (purchasing power parity):
$247 billion (2010 est.)
country comparison to the world: 50

$244.5 billion (2009 est.)
$251 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$223.7 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1% (2010 est.)
country comparison to the world: 182

-2.6% (2009 est.)
0% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$23,000 (2010 est.)
country comparison to the world: 56

$22,800 (2009 est.)
$23,500 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 2.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 23%
[see also: GDP - composition by sector - industry country ranks ]
services: 74.5% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
5.57 million (2009 est.)
country comparison to the world: 67
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 10%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 30%
[see also: Labor force - by occupation - industry country ranks ]
services: 60% (2007 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
10.7% (2010 est.)
country comparison to the world: 117

9.5% (2009 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
18% (2006)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.4% (1995 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
38.5 (2007)
country comparison to the world: 72

35.6 (1995)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
19% of GDP (2009 est.)
country comparison to the world: 98
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $93.61 billion
[see also: Budget - revenues country ranks ]
expenditures: $110.2 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
83.2% of GDP (2010 est.)
country comparison to the world: 15

76.8% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
1.1% (2010 est.)
country comparison to the world: 22

-0.8% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.75% (31 December 2009)
country comparison to the world: 125

3% (31 December 2008)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
6.12% (31 December 2009 est.)
country comparison to the world: 114

8.35% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$98.23 billion (31 December 2010 est)

$100.9 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$282 billion (31 December 2010 est.)

$302.3 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$556.3 billion (31 December 2009 est.)
country comparison to the world: 23

$490.8 billion (31 December 2008 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$98.65 billion (31 December 2009)
country comparison to the world: 45

$68.71 billion (31 December 2008)
$132.3 billion (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
grain, potatoes, tomatoes, olives, grapes; sheep, cattle, goats, pigs, poultry, dairy products; fish

Industries:
textiles, clothing, footwear, wood and cork, paper, chemicals, auto-parts manufacturing, base metals, diary products, wine and other foods, porcelain and ceramics, glassware, technology, telecommunications; ship construction and refurbishment; tourism

Industrial production growth rate:
0.9% (2009 est.)
country comparison to the world: 150
[see also: Industrial production growth rate country ranks ]

Electricity - production:
44.47 billion kWh (2007 est.)
country comparison to the world: 53
[see also: Electricity - production country ranks ]

Electricity - consumption:
48.78 billion kWh (2007 est.)
country comparison to the world: 47
[see also: Electricity - consumption country ranks ]

Electricity - exports:
1.313 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
10.74 billion kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
4,721 bbl/day (2009 est.)
country comparison to the world: 95
[see also: Oil - production country ranks ]

Oil - consumption:
272,200 bbl/day (2009 est.)
country comparison to the world: 49
[see also: Oil - consumption country ranks ]

Oil - exports:
53,660 bbl/day (2008 est.)
country comparison to the world: 78
[see also: Oil - exports country ranks ]

Oil - imports:
323,000 bbl/day (2008 est.)
country comparison to the world: 32
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl
country comparison to the world: 135
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
NA (2008 est.)
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
4.846 billion cu m (2009 est.)
country comparison to the world: 59
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 141
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
4.895 billion cu m (2009 est.)
country comparison to the world: 32
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 110
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$19.03 billion (2010 est.)
country comparison to the world: 180

-$23.95 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$46.27 billion (2010 est.)
country comparison to the world: 56

$44.49 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
agricultural 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, vehicles and other transport material, and optical and precision instruments

Exports - partners:
Spain 26.25%, Germany 12.99%, France 12.04%, Angola 7.21%, UK 5.54% (2009)

Imports:
$68.22 billion (2010 est.)
country comparison to the world: 40

$68.9 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
agricultural 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, vehicles and other transport material, and optical and precision instruments, computer accessories and parts, semi-conductors and related devices, household goods, passenger cars new and used, and wine products

Imports - partners:
Spain 31.58%, Germany 12.41%, France 8.58%, Italy 5.55%, Netherlands 5.31% (2009)

Reserves of foreign exchange and gold:
$NA (31 December 2010 est.)

$16.03 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$497.8 billion (30 June 2010)
country comparison to the world: 20

$507 billion (30 June 2009)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$105.7 billion (31 December 2010 est.)
country comparison to the world: 31

$102.6 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$63.64 billion (31 December 2010 est.)
country comparison to the world: 28

$63.64 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.774 (2010), 0.7179 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006)


NOTE: The information regarding Portugal on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Portugal Economy 2011 information contained here. All suggestions for corrections of any errors about Portugal Economy 2011 should be addressed to the CIA.



- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.

https://theodora.com/wfb2011/portugal/portugal_economy.html


This page was last modified 09-Feb-11
Copyright © 1995-2011 ITA all rights reserved.