Includes historical data for Portugal’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
A Diversified Economic Powerhouse
From being one of the poorest countries in Western Europe for the better part of the last century, Portugal has transformed into a rich, diversified, service-oriented and increasingly green economy. The country benefits from a skilled, cost-effective and multilingual workforce, its membership within the European Union (EU) and the eurozone, and an open-door policy towards foreign direct investment (FDI) that ensures equal treatment for domestic and foreign investors. Moreover, Portugal’s strategic location at the western end of the Mediterranean acts as a bridge between Europe, the Americas and Africa.
However, weaknesses persist, including an underdeveloped manufacturing sector, a complex and slow legal system, high public sector debt and inadequate infrastructure.
Macroeconomy & Sovereign Data
| Type of Government | Semi-presidential republic |
|---|---|
| Capital | Lisbon |
| Sovereign Ratings |
S&P: A– Moody’s: A3 Fitch: A– |
| Total Population | 10.3 million |
| Median Age | 46.2 |
| Adult Per Capita Income (PPP) | 43,041.37 |
| Total GDP (2023) | 299.0 billion |
Portugal GDP & Economic Overview
Most Recent Content
Portugal
Country Report
Portugal: On The Brink Of Recovery
Country Report
Portugal: Bright Spot
Country Report
China Bolsters Portugal’s FDIBanking & Finance
Trade & Investment
| Total Exports | USD 112.6 billion (2023) |
|---|---|
| Leading Exports |
Cars And Vehicle Parts Refined Petroleum Leather Footwear Tires Paper |
| Total Imports | USD 84.0 billion (2022) |
| Leading Imports |
Crude Petroleum Cars And Vehicle Parts Refined Petroleum Packaged Medicines Natural Gas |
| Source: | World Integrated Trade Solution |
Portugal Leading Companies
| Banco Comercial Portugues | Financials |
|---|---|
| Caixa Geral de Depositos | Insurance |
| Edp – Energias De Portugal | Electric Utilities |
| Galp Energia | Integrated Oil & Gas |
| Sonae SGPS | Conglomerate, Food Retail, Real Estate |
| Jeronimo Martins | Consumer Staples, Food Retail |
| GamaLife | Insurance |
Major Trade Partners — Import
| Spain | 33% |
|---|---|
| Germany | 12% |
| France | 7% |
| Netherland | 5% |
| Italy | 5% |
Source: World Integrated Trade Solution
Major Trade Partners — Export
| Spain | 27% |
|---|---|
| France | 13% |
| Germany | 11% |
| United States | 6% |
| United Kingdom | 5% |
Source: World Integrated Trade Solution
Global Finance Rankings & Awards
Data Sources:
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000