Indicators of economy in Portugal
The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.912 US Dollar per capita. In contrast, the GDP in Portugal reached 22.195 US dollars per inhabitant, or 228.54 bn US Dollar in the whole country. Portugal is therefore currently ranked 47 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Portugal is in the list of the world's richest countries in place 42.Inflation in Portugal was in 2021 at around 1.27%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 22.9% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.
Back to overview: Portugal
Impact of the Covid-19 pandemic in 2020
Overall, the gross domestic product in Portugal in 2020 decreased moderatly from 239.99 billion US Dollar to 228.54 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 4.8% 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%. The inflation rate has fallen from 0.3 percent previously to 0.0 percent by the end of 2020.Unemployment rates in percent 1991 - 2021
Economic performance 2020
Portugal Total | Portugal per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 228.54 bn USD | 22,194.57 USD | 15,291.93 tn USD | 29,710.69 USD |
Gross national product | 224.55 bn USD | 21,807.61 USD | 15,330.84 tn USD | 29,786.28 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. 4 of the 2000 largest listed companies in the world originate from Portugal. This is determined annually in the Forbes Global 2000 list. The 4 largest companies in the country were in 2021:
Rank 466: Edp-energias De Portugal (Lisbon)
Rank 1297: Jeronimo Martins (Lisbon)
Rank 1607: Galp Energia (Lisbon)
Rank 1676: Banco Comercial Portugues (Porto)
Development of the Gross domestic product in billion US Dollar 1960 - 2020
Household debt and deficits 2021
Portugal Total | Portugal per capita | EU Total | EU per capita | |
---|---|---|---|---|
Gross debt | 318.42 bn USD | 30,923.37 USD | 15,068.26 tn USD | 29,276.12 USD |
Budget deficit | 7.07 bn USD | 686.52 USD | 799.24 bn USD | 1,552.84 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
Im- and Exports 2021
Portugal Total | Portugal per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 89.18 bn USD | 8,660.51 USD | 7,340.01 bn USD | 14,260.90 USD |
Exports | 85.16 bn USD | 8,270.56 USD | 7,939.04 bn USD | 15,424.75 USD |
Development of imports and exports in billion US dollars 1975 - 2021
Exports
Imports