- Portugal is a western European country that has a service-based economy1, with manufacturing and agriculture as minor sectors1. The country is a member of the European Monetary Union (EMU) and uses the euro as its currency2. Portugal's economy grew by 4.9% in 20213, recovering from the impact of the COVID-19 pandemic, and is expected to grow by 6% in 20223. The main drivers of growth are domestic demand and tourism3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
Similar to those of other western European countries, Portugal’s economy is now dominated by services; manufacturing constitutes a significant share of output, while agricultural output is relatively minor, accounting for less than 3 percent of output.
www.britannica.com/place/Portugal/EconomyEconomy – overview: The country qualified for the European Monetary Union (EMU) in 1998 and began circulating the euro on 1 January 2002 along with 11 other EU member economies. Economic growth had been above the EU average for much of the past decade, but fell back in 2001-04 and it is now one of the worse performing economies in the EU.portugalonline.com/portugal/information/economyThe Portugal economy grew by 4.9% in 2021. In Q1 2022, the GDP rose above its pre-pandemic level, propelled by strong domestic demand and a rebound in tourism from the second half of 2021. GlobalData forecasts the real GDP to grow by 6% in 2022, up from 4.9% in 2021.www.globaldata.com/data-insights/macroeconomic… - People also ask
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See all on WikipediaEconomy of Portugal - Wikipedia
The economy of Portugal is ranked 34th in the World Economic Forum's Global Competitiveness Report for 2019. The great majority of the international trade is done within the European Union (EU), whose countries received 71.4% of the Portuguese exports and were the origin of 74.6% of the … See more
Portuguese Colonial Empire
During the Portuguese Empire period, started in the 15th century, until the Carnation Revolution of … See moreIn the first quarter of 2022, the unemployment rate was at 5.9%.
The unemployment rate has been continuously falling since the end of 2013, marking the … See moreIn the Portuguese financial market, the major stock exchange is the Euronext Lisbon which is part of Euronext, the major pan-European … See more
• Forest fires: Like in other countries with very hot summers and seasonal drying of soils and vegetation, every year large areas of the … See more
Government expenditure by function
According to Eurostat in 2011, the General Government expenditure by main function, as a percentage of Total Expenditure, was as follows (compared to the Eurozone and EU averages):
Also according to … See moreThe tertiary sector is presently the most important component of the Portuguese economy, representing 75.8% of the gross value added (GVA) and employing 68.1% of the working … See more
Portugal's competitiveness in the world
The Global Competitiveness Report for 2014–2015, published by the World Economic Forum, placed Portugal on the 36th position on the … See moreWikipedia text under CC-BY-SA license Portugal - Economy, Agriculture, Tourism | Britannica
- Portugal was the world’s richest country when its colonial empire in Asia, Africa, and South America was at its peak. Because this wealth was not used to develop domestic industrial infrastructure, however, Portugal gradually became one of western Europe’s poorest countries in the 19th and 20th centuries. From the mid-1970s, after the Portuguese re...
Portugal Economic Snapshot - OECD
WEBThe OECD provides an overview of the Portuguese economy, its performance, challenges and reforms. Learn about the impact of COVID-19, inflation, fiscal policy, …
Economic forecast for Portugal - European Commission
WEBThe latest macroeconomic forecast for Portugal shows a delayed rebound in growth amid faster easing of inflation in 2024 and 2025. GDP growth is projected at 1.2% in …
WEBAn analysis of Portugal's economic situation and developments, prepared by the European Commission's Directorate-General for Economic and Financial Affairs. …
Portugal: Policies for a Strong Economy - IMF
WEBJul 1, 2022 · After a deep pandemic-induced recession, the Portuguese economy gained ground in 2021 and GDP surpassed its pre-pandemic level in the first quarter of 2022. …
WEBexamination of the economic situation of member countries. The economic situation and policies of Portugal were reviewed by the Committee on 4 May 2021.
OECD Economic Surveys: Portugal 2021 - OECD iLibrary
WEBKey policy insights. copy the linklink copied! The COVID-19 crisis is threatening social and economic progress. The COVID-19 pandemic has raised multiple challenges for Portugal and exacerbated existing …
WEBThe European Commission expects Portugal's GDP to grow by 4.5% in 2021, 5.3% in 2022, and 2.4% in 2023, supported by the recovery in demand, employment and public …
Portugal | OECD Economic Outlook, Volume 2022 Issue 1 - OECD …
WEBPortugal. Real GDP is projected to grow by 5.4% in 2022 and 1.7% in 2023. Robust public investment, boosted by EU funds, and the return of tourism exports are set to support …
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