Portugal - Economic Indicators

Southwestern Europe, bordering the North Atlantic Ocean, west of Spain

39 30 N, 8 00 W

Europe

slightly smaller than Virginia

1,793 km

maritime temperate; cool and rainy in north, warmer and drier in south

the west-flowing Tagus River divides the country: the north is mountainous toward the interior, while the south is characterized by rolling plains

highest point: Ponta do Pico (Pico or Pico Alto) on Ilha do Pico in the Azores 2,351 m

fish, forests (cork), iron ore, copper, zinc, tin, tungsten, silver, gold, uranium, marble, clay, gypsum, salt, arable land, hydropower

arable land 11.9%; permanent crops 7.8%; permanent pasture 20%

5,400 sq km (2012)

concentrations are primarily along or near the Atlantic coast; both Lisbon and the second largest city, Porto, are coastal cities

Azores subject to severe earthquakes

soil erosion; air pollution caused by industrial and vehicle emissions; water pollution, especially in coastal areas

Azores and Madeira Islands occupy strategic locations along western sea approaches to Strait of Gibraltar

10,839,514 (July 2017 est.)

homogeneous Mediterranean population; citizens of black African descent who immigrated to mainland during decolonization number less than 100,000; since 1990, East Europeans have entered Portugal

Portuguese (official), Mirandese (official, but locally used)

Roman Catholic 81%, other Christian 3.3%, other (includes Jewish, Muslim, other) 0.6%, none 6.8%, unspecified 8.3%

0.04% (2017 est.)

9 births/1,000 population (2017 est.)

11.1 deaths/1,000 population (2017 est.)

2.5 migrant(s)/1,000 population (2017 est.)

concentrations are primarily along or near the Atlantic coast; both Lisbon and the second largest city, Porto, are coastal cities

LISBON (capital) 2.884 million; Porto 1.299 million (2015)

30.2 years (2015 est.)

10 deaths/100,000 live births (2015 est.)

1.53 children born/woman (2017 est.)

73.9% (2014)

9.5% of GDP (2014)

4.43 physicians/1,000 population (2014)

3.4 beds/1,000 population (2013)

urban: 100% of population

rural: 100% of population

total: 100% of population

urban: 0% of population

rural: 0% of population

total: 0% of population (2015 est.)

urban: 99.6% of population

rural: 99.8% of population

total: 99.7% of population

urban: 0.4% of population

rural: 0.2% of population

total: 0.3% of population (2015 est.)

NA

NA

NA

20.8% (2016)

5.1% of GDP (2014)

semi-presidential republic

18 districts (distritos, singular - distrito) and 2 autonomous regions* (regioes autonomas, singular - regiao autonoma); Aveiro, Acores (Azores)*, Beja, Braga, Braganca, Castelo Branco, Coimbra, Evora, Faro, Guarda, Leiria, Lisboa (Lisbon), Madeira*, Portalegre, Porto, Santarem, Setubal, Viana do Castelo, Vila Real, Viseu

1143 (Kingdom of Portugal recognized); 1640 (independence reestablished following 60-years of Spanish rule); 5 October 1910 (republic proclaimed)

Portugal Day (Dia de Portugal), 10 June (1580); note - also called Camoes Day, the day that revered national poet Luis de Camoes (1524-80) died

civil law system; Constitutional Court review of legislative acts

accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction

18 years of age; universal

Democratic and Social Center/Popular Party or CDS-PP [Assuncao CRISTAS]

Ecologist Party "The Greens" or PEV [Heloisa APOLONiA]

People_Animals_Nature Party or PAN [Andre SILVA]

Portuguese Communist Party or PCP [Jeronimo DE SOUSA]

Social Democratic Party or PPD/PSD [Rui RIO]

Socialist Party or PS [Antonio COSTA]

The Left Bloc or BE or o Bloco [Catarina MARTINS]

Unitary Democratic Coalition or CDU [Jeronimo DE SOUSA] (includes PCP and PEV)

Armed Forces Officers' Association or AOFA [Lt. Col. Antonio Costa MOTA]

General Workers Union or UGT [Carlos SILVA]

General Confederation of Portuguesse Workers or CGTP-IN [Armenio CARLOS]

TugaLeaks (a website that has become a mouthpiece for publicizing diverse protest action)

ADB (nonregional member), AfDB (nonregional member), Australia Group, BIS, CD, CE, CERN, CPLP, EAPC, EBRD, ECB, EIB, EMU, ESA, EU, FAO, FATF, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), LAIA (observer), MIGA, MINUSMA, NATO, NEA, NSG, OAS (observer), OECD, OPCW, OSCE, Pacific Alliance (observer), Paris Club (associate), PCA, Schengen Convention, SELEC (observer), UN, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC

two vertical bands of green (hoist side, two-fifths) and red (three-fifths) with the national coat of arms (armillary sphere and Portuguese shield) centered on the dividing line; explanations for the color meanings are ambiguous, but a popular interpretation has green symbolizing hope and red the blood of those defending the nation

armillary sphere (a spherical astrolabe modeling objects in the sky and representing the Republic); national colors: red, green

Portugal has become a diversified and increasingly service-based economy since joining the European Community - the EU's predecessor - in 1986. Over the following two decades, successive governments privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country joined the Economic and Monetary Union in 1999 and began circulating the euro on 1 January 2002 along with 11 other EU members.

The economy grew by more than the EU average for much of the 1990s, but the rate of growth slowed in 2001-08. After the global financial crisis in 2008, Portugal’s economy contracted in 2009 and fell into recession from 2011 to 2013, as the government implemented spending cuts and tax increases to comply with conditions of an EU-IMF financial rescue package, signed in May 2011. Portugal successfully exited its EU-IMF program in May 2014, and its economic recovery gained traction in 2015 because of strong exports and a rebound in private consumption. GDP growth accelerated in 2016, and probably reached 2.5 % in 2017. Unemployment remained high, at 9.7% in 2017, but has improved steadily since peaking at 18% in 2013.

The center-left minority Socialist government has unwound some unpopular austerity measures while managing to remain within most EU fiscal targets. The budget deficit fell from 11.2% of GDP in 2010 to 1.8% in 2017, the country’s lowest since democracy was restored in 1974, and surpassing the EU and IMF projections of 3%. Portugal exited the EU’s excessive deficit procedure in mid-2017.

$311.3 billion (2017 est.)

$303.8 billion (2016 est.)

$299.6 billion (2015 est.)

$211.7 billion (2017 est.)

2.5% (2017 est.)

1.4% (2016 est.)

1.6% (2015 est.)

$30,300 (2017 est.)

$29,400 (2016 est.)

$28,900 (2015 est.)

17% of GDP (2017 est.)

15.8% of GDP (2016 est.)

15.5% of GDP (2015 est.)

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

textiles, clothing, footwear, wood and cork, paper and pulp, chemicals, fuels and lubricants, automobiles and auto parts, base metals, minerals, porcelain and ceramics, glassware, technology, telecommunications; dairy products, wine, other foodstuffs; ship construction and refurbishment; tourism, plastics, financial services, optics

1% (2017 est.)

5.233 million (2017 est.)

9.7% (2017 est.)

11.1% (2016 est.)

19% (2015 est.)

33.9 (2015 est.)

34 (2014 est.)

43.9% of GDP (2017 est.)

-1.8% of GDP (2017 est.)

127.7% of GDP (2017 est.)

130.4% of GDP (2016 est.)

calendar year

1.6% (2017 est.)

0.6% (2016 est.)

0% (2016 est.)

0.05% (2015 est.)

3.5% (31 December 2017 est.)

3.77% (31 December 2016 est.)

$106.5 billion (31 December 2017 est.)

$81.15 billion (31 December 2016 est.)

$216 billion (31 December 2017 est.)

$173.9 billion (31 December 2016 est.)

$343.3 billion (31 December 2017 est.)

$311.5 billion (31 December 2016 est.)

$59.84 billion (31 December 2015 est.)

$57.77 billion (31 December 2014 est.)

$79.18 billion (31 December 2013 est.)

$888 million (2017 est.)

$1.462 billion (2016 est.)

$62.6 billion (2017 est.)

$54.76 billion (2016 est.)

agricultural products, foodstuffs, 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

Spain 26.2%, France 12.6%, Germany 11.7%, UK 7%, US 4.9% (2016)

$74.32 billion (2017 est.)

$64.79 billion (2016 est.)

agricultural products, chemical products, vehicles and other transport material, optical and precision instruments, computer accessories and parts, semiconductors and related devices, oil products, base metals, food products, textile materials

Spain 32.8%, Germany 13.5%, France 7.8%, Italy 5.5%, Netherlands 5.1% (2016)

$25.13 billion (31 December 2016 est.)

$19.4 billion (31 December 2015 est.)

$449 billion (31 March 2016 est.)

$447 billion (31 March 2015 est.)

$158.9 billion (31 December 2017 est.)

$147.1 billion (31 December 2016 est.)

$89.06 billion (31 December 2017 est.)

$84.73 billion (31 December 2016 est.)

euros (EUR) per US dollar -

0.89 (2017 est.)

0.9 (2016 est.)

0.92 (2015 est.)

0.75 (2014 est.)

0.76 (2013 est.)

49.66 billion kWh (2015 est.)

47.03 billion kWh (2015 est.)

9.701 billion kWh (2016 est.)

4.616 billion kWh (2016 est.)

19.63 million kW (2015 est.)

37.9% of total installed capacity (2015 est.)

0% of total installed capacity (2015 est.)

22.3% of total installed capacity (2015 est.)

32.5% of total installed capacity (2015 est.)

0 bbl/day (2016 est.)

0 bbl/day (2016 est.)

270,600 bbl/day (2016 est.)

0 bbl (1 January 2017 est.)

308,700 bbl/day (2016 est.)

234,700 bbl/day (2016 est.)

128,800 bbl/day (2016 est.)

71,920 bbl/day (2016 est.)

0 cu m (2014 est.)

8.371 billion cu m (2015 est.)

0 cu m (2014 est.)

4.713 billion cu m (2015 est.)

0 cu m (1 January 2014 est.)

43.98 million Mt (2014 est.)

Radio e Televisao de Portugal (RTP), the publicly owned TV broadcaster, operates 4 domestic channels and external service channels to Africa; overall, roughly 40 domestic TV stations; viewers have widespread access to international broadcasters with more than half of all households connected to multi-channel cable or satellite TV systems; publicly owned radio operates 3 national networks and provides regional and external services; several privately owned national radio stations and some 300 regional and local commercial radio stations (2014)

.pt

CR, CS (2016)

64 (2013)

gas 1,344 km; oil 11 km; refined products 188 km (2013)

210 km (on Douro River from Porto) (2011)

1.84% of GDP (2016)

1.79% of GDP (2015)

1.79% of GDP (2014)

2.09% of GDP (2013)

1.91% of GDP (2012)

Portuguese Army (Exercito Portuguesa), Portuguese Navy (Marinha Portuguesa; includes Marine Corps), Portuguese Air Force (Forca Aerea Portuguesa, FAP) (2013)

18-30 years of age for voluntary military service; no compulsory military service, but conscription possible if insufficient volunteers available; women serve in the armed forces, on naval ships since 1993, but are prohibited from serving in some combatant specialties; reserve obligation to age 35 (2012)

Portugal does not recognize Spanish sovereignty over the territory of Olivenza based on a difference of interpretation of the 1815 Congress of Vienna and the 1801 Treaty of Badajoz

seizing record amounts of Latin American cocaine destined for Europe; a European gateway for Southwest Asian heroin; transshipment point for hashish from North Africa to Europe; consumer of Southwest Asian heroin