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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
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.
$247 billion (2010 est.)
country comparison to the world: 50
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$223.7 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
1% (2010 est.)
country comparison to the world: 182
[see also: GDP - real growth rate country ranks ]
$23,000 (2010 est.)
country comparison to the world: 56
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
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 ]
5.57 million (2009 est.)
country comparison to the world: 67
[see also: Labor force country ranks ]
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 ]
10.7% (2010 est.)
country comparison to the world: 117
[see also: Unemployment rate country ranks ]
18% (2006)
[see also: Population below poverty line country ranks ]
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 ]
38.5 (2007)
country comparison to the world: 72
[see also: Distribution of family income - Gini index country ranks ]
19% of GDP (2009 est.)
country comparison to the world: 98
[see also: Investment (gross fixed) country ranks ]
revenues: $93.61 billion
[see also: Budget - revenues country ranks ]
expenditures:
$110.2 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
83.2% of GDP (2010 est.)
country comparison to the world: 15
[see also: Public debt country ranks ]
1.1% (2010 est.)
country comparison to the world: 22
[see also: Inflation rate (consumer prices) country ranks ]
1.75% (31 December 2009)
country comparison to the world: 125
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 ]
6.12% (31 December 2009 est.)
country comparison to the world: 114
[see also: Commercial bank prime lending rate country ranks ]
$98.23 billion (31 December 2010 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 ]
$282 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$556.3 billion (31 December 2009 est.)
country comparison to the world: 23
[see also: Stock of domestic credit country ranks ]
$98.65 billion (31 December 2009)
country comparison to the world: 45
[see also: Market value of publicly traded shares country ranks ]
grain, potatoes, tomatoes, olives, grapes; sheep, cattle, goats, pigs, poultry, dairy products; fish
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
0.9% (2009 est.)
country comparison to the world: 150
[see also: Industrial production growth rate country ranks ]
44.47 billion kWh (2007 est.)
country comparison to the world: 53
[see also: Electricity - production country ranks ]
48.78 billion kWh (2007 est.)
country comparison to the world: 47
[see also: Electricity - consumption country ranks ]
1.313 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]
10.74 billion kWh (2008 est.)
[see also: Electricity - imports country ranks ]
4,721 bbl/day (2009 est.)
country comparison to the world: 95
[see also: Oil - production country ranks ]
272,200 bbl/day (2009 est.)
country comparison to the world: 49
[see also: Oil - consumption country ranks ]
53,660 bbl/day (2008 est.)
country comparison to the world: 78
[see also: Oil - exports country ranks ]
323,000 bbl/day (2008 est.)
country comparison to the world: 32
[see also: Oil - imports country ranks ]
0 bbl
country comparison to the world: 135
[see also: Oil - proved reserves country ranks ]
NA (2008 est.)
[see also: Natural gas - production country ranks ]
4.846 billion cu m (2009 est.)
country comparison to the world: 59
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 141
[see also: Natural gas - exports country ranks ]
4.895 billion cu m (2009 est.)
country comparison to the world: 32
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 110
[see also: Natural gas - proved reserves country ranks ]
-$19.03 billion (2010 est.)
country comparison to the world: 180
[see also: Current account balance country ranks ]
$46.27 billion (2010 est.)
country comparison to the world: 56
[see also: Exports country ranks ]
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
Spain 26.25%, Germany 12.99%, France 12.04%, Angola 7.21%, UK 5.54% (2009)
$68.22 billion (2010 est.)
country comparison to the world: 40
[see also: Imports country ranks ]
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
Spain 31.58%, Germany 12.41%, France 8.58%, Italy 5.55%, Netherlands 5.31% (2009)
$NA (31 December 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
$497.8 billion (30 June 2010)
country comparison to the world: 20
[see also: Debt - external country ranks ]
$105.7 billion (31 December 2010 est.)
country comparison to the world: 31
[see also: Stock of direct foreign investment - at home country ranks ]
$63.64 billion (31 December 2010 est.)
country comparison to the world: 28
[see also: Stock of direct foreign investment - abroad country ranks ]
euros (EUR) per US dollar - 0.774 (2010), 0.7179 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006)
This page was last modified 09-Feb-11