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



 At a Glance



  History & Culture








 Worth a Visit !!



  Maps & Cities


  Eating Out



  Travel Links

 Country Facts









  Transnational issues


  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


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


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


Destinations Monuments Ancient Wonders Modern Wonders Natural Wonders


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