Portugal: Economy
|
Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
|
Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developed |
| Economic Trivia | Portugal is the world's leading cork producer. |
|
Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): Spain, Germany, and France |
| Top Industries Source: CIA World Factbook | Textiles; Clothing; Footwear; Wood and Cork |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $430,226,600,852 (2022) |
| GDP Growth Rate (annual %) | 6.686% (2022) |
| GDP Per Capita, PPP (current international) | $41,452 (2022) |
GDP Country Rank 53/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 7.833% (2022) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 39.8% (2019) |
| Real Interest Rate (5 year average %) | 4.313% (2016) |
| Manufacturing, value added (% of GDP) | 12.419% (2022) |
| Current Account Balance (BoP, current US$) | ($2,986,907,578) (2021) |
Labor and Employment [1]
| Labor Force, Total | 5,289,425 (2022) |
| Employment in Agriculture (% of total employment) | 5.154% (2021) |
| Employment in Industry (% of total employment) | 23.948% (2021) |
| Employment in Services (% of total employment) | 70.898% (2021) |
| Unemployment Rate | 5.781% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $132,491,972,301 (2022) |
| Exports of goods and services (current US$) | $126,093,750,922 (2022) |
| Total Merchandise Trade (% of GDP) | 78.221% (2022) |
| FDI, net inflows (BoP, current US$) | $9,099,403,315 (2022) |
| Commercial Service Exports (current US$) | $31,931,861,661 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Portugal’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.