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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
GDP253.66 bn USD24,567.51 USD17.177 tn USD33,384.92 USD
Gross national product246.71 bn USD23,894.49 USD16.895 tn USD32,835.37 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 debt318.42 bn USD30,839.31 USD15.068 tn USD29,285.70 USD
Budget deficit7.07 bn USD684.65 USD799.24 bn USD1,553.35 USD


Imports and Exports 2021

 Portugal
Total
Portugal
per capita
EU
Total
EU
per capita
Imports111.86 bn USD10,833.51 USD8.916 tn USD17,329.02 USD
Exports105.30 bn USD10,197.96 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1975 - 2021

Exports
Imports



Portugal: AirportsLargest airports and airlines in PortugalThe 18 biggest airports and 6 airlines in Portugal with further information and data with further information on airlines and destinations
Portugal: Public HolidaysPublic holidays in Portugal 2023-2027Statutory and inofficial holidays in Portugal for 2023 to 2027
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.