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Portugal

Headline economic indicators for Portugal, with the most recent official readings.

Prices

Prices — Portugal
Indicator Value Change
Inflation rate · 2.3% -0.08 (-3.3%)
Consumer price index · 132.0 +3.01 (+2.3%)
Inflation rate (monthly) · 3.6% +0.00 (+0.0%)
Harmonised consumer price index · 131.3 +1.36 (+1.0%)
House price index (quarterly) · 271.0 +10.03 (+3.8%)
House price inflation, year on year (quarterly) · 17.8% -1.10 (-5.8%)
Real house price index (quarterly) · 203.8 +7.60 (+3.9%)
Real house price growth, year on year (quarterly) · 15.2% -1.08 (-6.6%)
Producer prices, year on year (monthly) · 9.1% +1.90 (+26.4%)
GDP deflator inflation · 3.9% -0.94 (-19.4%)

GDP

GDP — Portugal
Indicator Value Change
GDP growth rate · 1.9% -0.35 (-15.8%)
GDP per capita · 32,081.81 +2,754 (+9.4%)
GDP growth, quarter on quarter · 0.2% -0.70 (-77.8%)
GDP growth, year on year (quarterly) · 2.4% -0.20 (-7.7%)
Industrial production, year on year (monthly) · -1.5% -0.50 (-50.0%)
Retail sales volume, year on year (monthly) · 2.2% -0.40 (-15.4%)
Economic sentiment indicator (monthly) · 100.8 -1.40 (-1.4%)
Consumer confidence (monthly) · -26.8 -4.10 (-18.1%)
GDP per capita, long-run history · 28,992 +1,854 (+6.8%)
GDP · 346,639,825,141.82 +32,982,940,271 (+10.5%)
GDP, PPP · 574,232,775,758 +12,627,643,518 (+2.2%)
GDP per capita, PPP · 53,146 +633.17 (+1.2%)
GDP per capita growth · 0.8% -0.28 (-25.0%)
GNI per capita · 29,930 +2,990 (+11.1%)
Agriculture to GDP · 2.0% -0.06 (-2.9%)
Industry to GDP · 18.3% -0.44 (-2.3%)
Manufacturing to GDP · 11.3% -0.45 (-3.8%)
Services to GDP · 66.6% +0.26 (+0.4%)
Household consumption to GDP · 61.0% +0.17 (+0.3%)
Gross capital formation to GDP · 21.0% +0.70 (+3.4%)
Gross savings to GDP · 21.8% -0.31 (-1.4%)

Labour

Labour — Portugal
Indicator Value Change
Unemployment rate · 6.2% -0.34 (-5.2%)
Unemployment rate (monthly) · 5.6% +0.00 (+0.0%)
Labour force participation rate · 58.2% -0.28 (-0.5%)
Female labour force participation rate · 54.6% -0.26 (-0.5%)
Youth unemployment rate · 20.2% -1.54 (-7.1%)
Employment to population ratio · 54.6% -0.07 (-0.1%)
Employment in agriculture · 2.8% -0.08 (-2.8%)
Employment in industry · 24.6% -0.21 (-0.9%)
Employment in services · 72.7% +0.29 (+0.4%)

Money

Money — Portugal
Indicator Value Change
Central bank policy rate · 2.7% +0.25 (+10.4%)
ECB deposit facility rate · 2.5% +0.25 (+11.1%)
Real effective exchange rate (monthly) · 99.5 +0.78 (+0.8%)
Nominal effective exchange rate (monthly) · 104.6 -0.09 (-0.1%)
Private sector credit to GDP (quarterly) · 128.6% +0.43 (+0.3%)
Credit-to-GDP gap (quarterly) · -24.25 pp +2.79 (+10.3%)
Debt service ratio, private sector (quarterly) · 12.2% +0.00 (+0.0%)
Debt service ratio, households (quarterly) · 5.9% +0.00 (+0.0%)
Debt service ratio, non-financial corporations (quarterly) · 36.7% -0.30 (-0.8%)
Cost of borrowing for house purchase (monthly) · 3.0% +0.04 (+1.3%)
Cost of borrowing for corporations (monthly) · 4.2% +0.14 (+3.4%)
10-year government bond yield (monthly) · 3.8% +0.31 (+8.7%)
Private sector credit to GDP · 77.1% -3.11 (-3.9%)
Stock market capitalization to GDP · 25.6% -8.64 (-25.3%)
Bank nonperforming loans · 2.3% -0.45 (-16.3%)
Official exchange rate · 0.88 -0.04 (-4.2%)

Trade

Trade — Portugal
Indicator Value Change
Current account to GDP · 1.2% -1.35 (-53.2%)
Exports to GDP · 43.7% -2.16 (-4.7%)
Imports to GDP · 42.7% -1.10 (-2.5%)
Trade to GDP · 86.4% -3.26 (-3.6%)
Exports of goods and services · 151,336,322,847.15 +7,619,724,301 (+5.3%)
Imports of goods and services · 148,156,593,238.28 +10,643,524,134 (+7.7%)
Trade balance, goods and services (annual) · 3,484,592,745.78 -3,912,908,753 (-52.9%)
Current account balance (annual) · 4,114,079,595.92 -3,840,881,711 (-48.3%)
Foreign direct investment to GDP · 3.5% -0.66 (-16.1%)
Remittances received to GDP · 0.8% +0.04 (+5.5%)
Total reserves, including gold · 68,839,157,118.04 +26,404,873,608 (+62.2%)
Reserves in months of imports · 4.7 +1.58 (+50.4%)

Government

Government — Portugal
Indicator Value Change
Government debt to GDP · 5.7% -2.59 (-31.4%)
Government debt to GDP (quarterly) · 92.5% +2.10 (+2.3%)
Government revenue to GDP · 37.4% -0.12 (-0.3%)
Government expense to GDP · 37.2% -2.15 (-5.5%)
Tax revenue to GDP · 22.3% -0.33 (-1.4%)
Government budget balance to GDP · 0.4% -0.93 (-69.4%)
Government consumption to GDP · 17.0% +0.20 (+1.2%)
Education spending to GDP · 4.6% -0.22 (-4.6%)
Health spending to GDP · 10.2% +0.21 (+2.1%)

Demography

Demography — Portugal
Indicator Value Change
Population · 10,804,871 +110,190 (+1.0%)
Population, long-run history · 10,200 -13.80 (-0.1%)
Population growth · 1.0% -0.07 (-6.4%)
Life expectancy · 82.4 +0.05 (+0.1%)
Fertility rate · 1.41 -0.04 (-2.8%)
Birth rate · 7.9 -0.20 (-2.5%)
Death rate · 11.1 -0.10 (-0.9%)
Urban population share · 61.5% +0.17 (+0.3%)
Population aged 65 and over · 24.9% +0.41 (+1.7%)
Under-five mortality rate · 3.2 +0.00 (+0.0%)
Population density · 116.7 +1.27 (+1.1%)
Net migration · 16,472 -4,176 (-20.2%)
Gini index · 33.9 -2.40 (-6.6%)

Source: Bank for International Settlements (BIS). Translated titles are not official BIS translations.

Source: ECB

Source: ECB euro foreign exchange reference rates

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

Portugal

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