Indicators of economy in Portugal
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Portugal, on the other hand, reached USD 24,568 per capita, or 253.66 billion USD for the whole country. Portugal is therefore currently ranked 48 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Portugal ranks 43rd in the list of the richest countries.Inflation in Portugal in 2021 was around 1.27%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 23.6 percent lower.
The index for perceived corruption in the public sector is 62, which is rather mediocre by global standards.
Back to overview: Portugal
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Portugal in 2020 decreased moderatly from 239.99 billion US dollars to 229.03 billion US dollars. Certainly, there have been shifts in some sectors of the economy, but a drop of 4.6 percent is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 57 percent. The unemployment rate rose from 6.5 to 6.8 percent. The country's gross debt increased by 10.4 percent. The inflation rate fell from 0.3 percent previously to zero percent by the end of 2020.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Portugal Total | Portugal per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 253.66 bn USD | 24,567.51 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 246.71 bn USD | 23,894.49 USD | 16.895 tn USD | 32,835.37 USD |
Portugal ranked 37th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. Out of the 2,000 largest listed companies in the world, 4 originate from Portugal. This is determined annually in the Forbes Global 2000 list. The 4 largest companies in the country in 2022 were:
Rank 666: Edp-energias De Portugal (Lisbon)
Rank 1228: Jeronimo Martins (Lisbon)
Rank 1375: Galp Energia (Lisbon)
Rank 1652: Banco Comercial Portugues (Porto)
Development of gross domestic product in billions of USD 1960 - 2021
Household debt and deficits 2021
Portugal Total | Portugal per capita | EU Total | EU per capita | |
---|---|---|---|---|
Gross debt | 318.42 bn USD | 30,839.31 USD | 15.068 tn USD | 29,285.70 USD |
Budget deficit | 7.07 bn USD | 684.65 USD | 799.24 bn USD | 1,553.35 USD |
› Debt budget development
› Development of inflation
› Corruption in Portugal
› Cost of living in a global comparison
› Development of inflation
› Corruption in Portugal
› Cost of living in a global comparison
Imports and Exports 2021
Portugal Total | Portugal per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 111.86 bn USD | 10,833.51 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 105.30 bn USD | 10,197.96 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in billions of USD 1975 - 2021
Exports
Imports