1UpTravel


 

You are here >1uptravel > International > Europe > Portugal



ADVERTISEMENT

Country

 At a Glance

  Introduction

  Topography

  History & Culture

  Life

  Cuisine

  Holidays

  Festivals

  Embassies

  Administration

  Newstand


 Worth a Visit !!

  Cities

  Attractions

  Maps & Cities

  Shopping

  Eating Out

  Recreation

  Essentials

  Travel Links


 Country Facts

  Introduction

  Geography

  People

  Government

  Economy

  Communications

  Transportation

  Military

  Transnational issues


Related

  Portugal Guide
  Portugal Maps
  Portugal Hotels
  Portugal Flag
  More Portugal Flags
  Portugal Geography
  Portugal Travel Warning



Travel & Tourism . Tourist Guide to the Country

Portugal Economy




Portugal    Economy Top of Page
Economy - overview: Portugal is an upcoming capitalist economy with a per capita GDP two-thirds that of the four big West European economies. The country qualified for the European Monetary Union (EMU) in 1998 and joined with 10 other European countries in launching the euro on 1 January 1999. The year 2000 was marked by moderation in growth, inflation, and unemployment. The country continues to run a sizable trade deficit. The government is working to reform the tax system, to modernize capital plant, and to increase the country's competitiveness in the increasingly integrated world markets. Growth is expected to fall off slightly in 2001. Improvement in the education sector is critical to the long-run catch-up process.
GDP: purchasing power parity - $159 billion (2000 est.)
GDP - real growth rate: 2.7% (2000 est.)
GDP - per capita: purchasing power parity - $15,800 (2000 est.)
GDP - composition by sector: agriculture:  4%

industry:  36%

services:  60% (1999 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%:  3.1%

highest 10%:  28.4% (1995 est.)
Inflation rate (consumer prices): 2.8% (2000 est.)
Labor force: 5 million (1999)
Labor force - by occupation: services 60%, industry 30%, agriculture 10% (1999 est.)
Unemployment rate: 4.3% (2000 est.)
Budget: revenues:  $48.6 billion

expenditures:  $50.7 billion, including capital expenditures of $7.7 billion (2000 est.)
Industries: textiles and footwear; wood pulp, paper, and cork; metalworking; oil refining; chemicals; fish canning; wine; tourism
Industrial production growth rate: 2.9% (1999 est.)
Electricity - production: 41.696 billion kWh (1999)
Electricity - production by source: fossil fuel:  79.97%

hydro:  17.25%

nuclear:  0%

other:  2.78% (1999)
Electricity - consumption: 37.915 billion kWh (1999)
Electricity - exports: 4.49 billion kWh (1999)
Electricity - imports: 3.628 billion kWh (1999)
Agriculture - products: grain, potatoes, olives, grapes; sheep, cattle, goats, poultry, beef, dairy products
Exports: $26.1 billion (f.o.b., 2000 est.)
Exports - commodities: clothing and footwear, machinery, chemicals, cork and paper products, hides
Exports - partners: EU 83% (Germany 20%, Spain 18%, France 14%, UK 12%, Netherlands 5%, Benelux 5%, Italy), US 5% (1999)
Imports: $41 billion (f.o.b., 2000 est.)
Imports - commodities: machinery and transport equipment, chemicals, petroleum, textiles, agricultural products
Imports - partners: EU 78% (Spain 25%, Germany 15%, France 11%, Italy 8%, UK 7%, Netherlands 5%), US 3%, Japan 3% (1998)
Debt - external: $13.1 billion (1997 est.)
Economic aid - donor: ODA, $271 million (1995)
Currency: Portuguese escudo (PTE); euro (EUR)

note:  on 1 January 1999, the EU introduced the euro as a common currency that is now being used by financial institutions in Portugal at a fixed rate of 200.482 Portuguese escudos per euro and will replace the local currency for all transactions in 2002
Currency code: PTE; EUR
Exchange rates: euros per US dollar - 1.0659 (January 2001), 1.0854 (2000), 0.9386 (1999); Portuguese escudos per US dollar - 180.10 (1998), 175.31 (1997), 154.24 (1996)
Fiscal year: calendar year

 

Countryfacts Information Courtesy: CIA Worldbook








Make 1Up Travel your HomepageSend this Page to a FriendGo to Top of PagePrint this PageAdd 1Up Travel to your Favorites


CHANNELS

Compare Country Info Hotel Directory Geography Flags World Maps Travel Warnings National Parks

DESTINATIONS

Asia Africa Caribbean Middle East North America South America Central America Oceania Pacific Europe Polar Regions

PHOTO SPECIAL

Destinations Monuments Ancient Wonders Modern Wonders Natural Wonders

UTILITIES

World Time ISD Codes Travel Links Link Exchange

 



Disclaimer: Although we've tried to make the information on this web site as accurate as possible, we accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities before you travel.

Copyright 1Up Travel All Rights Reserved.
Go Up

Privacy Policy