Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1.14 1.13 1.13 1.12 1.12 1.1
Stock Market (points) 5068.02 4670 4621 4572 4525 4430
Government Bond 10Y (%) 1.59 1.75 1.8 1.85 1.91 2.02
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.30 0.5 0.5 0.4 0.5 0.4
GDP Annual Growth Rate (%) 2.10 2 2.1 1.9 1.4 1.7
Unemployment Rate (%) 6.70 7.2 6.4 5.6 6.5 6
Inflation Rate (%) 0.70 1.7 1.8 1.9 1.9 1.9
Inflation Rate Mom (%) -0.20 0.5 -0.2 0.6 0.5 0.4
Interest Rate (%) 0.00 0 0 0.25 0.25 0.75
Balance of Trade (EUR Million) -2066.26 -800 -940 -1180 -1278 -1230
Current Account (EUR Million) 495.70 -120 51 551 -110 -90
Current Account to GDP (%) 0.50 0.6 0.6 0.6 0.6 0.5
Government Debt to GDP (%) 125.70 119 119 119 119 115
Government Budget (% of GDP) -3.00 -0.9 -0.9 -0.9 -0.9 -0.7
Business Confidence (Index Points) 2.20 1.9 2.2 2.5 1.5 1.5
Consumer Confidence (Index Points) -2.20 -2 -1.4 -0.6 -0.8 -2
Retail Sales MoM (%) 1.60 0.7 0.5 0.5 0.5 0.4
Corporate Tax Rate (%) 21.00 21 21 21 21 21
Personal Income Tax Rate (%) 48.00 48 48 48 48 48
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.30 0.5 0.5 0.4 0.5 0.4
GDP Annual Growth Rate (%) 2.10 2 2.1 1.9 1.4 1.7
GDP (USD Billion) 217.57 232 232 232 232 240
GDP Constant Prices (EUR Million) 46017.00 45913 46185 46308 46661 47454
Gross Fixed Capital Formation (EUR Million) 8154.00 8003 8142 8206 8268 8409
GDP per capita (USD) 23116.58 24500 24500 24500 24500 25100
GDP per capita PPP (USD) 27936.90 29100 29100 29100 29100 29600
GDP From Agriculture (EUR Million) 823.90 848 837 829 835 850
GDP From Construction (EUR Million) 1610.30 1680 1689 1641 1633 1661
GDP From Manufacturing (EUR Million) 5643.50 5661 5628 5679 5723 5820
GDP From Services (EUR Million) 8585.40 8592 8652 8640 8706 8854
GDP From Transport (EUR Million) 3332.30 3247 3311 3353 3379 3436
GDP From Utilities (EUR Million) 1231.60 1227 1215 1239 1249 1270
Gross National Product (EUR Million) 51323.13 48431 50941 51648 52042 52926
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 6.70 7.2 6.4 5.6 6.5 6
Employed Persons (Thousand ) 4821.30 4910 4920 4940 4950 4990
Unemployed Persons (Thousand ) 347.00 300 285 275 255 260
Part Time Employment (Thousand) 505.00 570 575 580 580 600
Full Time Employment (Thousand) 4397.70 4400 4420 4440 4460 4510
Employment Rate (%) 55.40 54.9 55 55.2 55.5 55.9
Labor Force Participation Rate (%) 59.40 59.9 60 60 60 60.1
Long Term Unemployment Rate (%) 3.10 3.7 3.6 3.6 3.4 3.2
Youth Unemployment Rate (%) 19.40 19.2 18.8 18.4 17.5 16.5
Labour Costs (Index Points) 96.70 102 97.4 98.5 108 108
Job Vacancies 9409.00 16100 14300 12300 10225 10412
Wages (EUR/Month) 1148.29 1280 1290 1320 1340 1410
Wages in Manufacturing (Index Points) 134.04 109 119 108 151 157
Wage Growth (%) 3.50 3.2 2.5 2.3 2.5 2.6
Minimum Wages (EUR/Month) 700.00 700 700 700 700 725
Population (Million) 10.29 10.28 10.28 10.28 10.28 10.28
Retirement Age Women 66.33 66.42 66.42 66.42 66.42 66.5
Retirement Age Men 66.33 66.42 66.42 66.42 66.42 66.5
Unemployment Change 788.00 -12100 -20500 -6600 -3400 -3200
Wages Low Skilled (EUR/Month) 659.00 700 700 700 700 750
Wages High Skilled (EUR/Month) 1430.00 1500 1500 1500 1500 1650
Productivity (Index points) 108.70 99.7 104 110 104 104
Living Wage Family (EUR/Month) 990.00 1150 1150 1150 1150 1205
Living Wage Individual (EUR/Month) 670.00 700 700 700 700 850
Employment Change (%) -0.30 0.6 0.5 0.5 0.6 0.5
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 0.70 1.7 1.8 1.9 1.9 1.9
Inflation Rate Mom (%) -0.20 0.5 -0.2 0.6 0.5 0.4
Consumer Price Index CPI (Index Points) 103.66 105 106 106 106 108
Harmonised Consumer Prices (Index Points) 103.02 104 106 107 105 107
Core Consumer Prices (Index Points) 103.83 105 106 106 105 107
Core Inflation Rate (%) 0.56 1.2 1.5 1.6 1.6 1.8
Producer Prices (Index Points) 104.70 110 106 107 114 119
Producer Prices Change (%) 2.70 2.2 2.3 2.1 2.2 2.4
CPI Housing Utilities (Index Points) 108.75 109 110 110 111 113
CPI Transportation (Index Points) 100.82 101 103 104 103 105
Food Inflation (%) 0.30 1.9 2 1.9 2.2 2
GDP Deflator (%) 1.10 1.7 1.7 1.9 2 2.2
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 0.00 0 0 0.25 0.25 0.75
Interbank Rate (%) -0.31 -0.32 -0.32 -0.27 -0.22 -0.22
Money Supply M0 (EUR Million) 28135.00 30900 31600 32200 32800 34500
Money Supply M1 (EUR Million) 128755.00 159700 165100 184100 193900 244400
Money Supply M2 (EUR Million) 218444.00 256100 261200 268800 274100 293300
Banks Balance Sheet (EUR Million) 369614.00 405100 408100 411200 415200 429200
Loans to Private Sector (EUR Million) 70648.00 85900 88440 89950 91111 98200
Private Debt to GDP (%) 257.50 248 248 248 248 244
Loan Growth (%) 0.10 1 1.5 1.7 1.9 2
Central Bank Balance Sheet (EUR Million) 110015.00 122500 125200 128500 132600 151250
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (EUR Million) -2066.26 -800 -940 -1180 -1278 -1230
Current Account (EUR Million) 495.70 -120 51 551 -110 -90
Current Account to GDP (%) 0.50 0.6 0.6 0.6 0.6 0.5
Imports (EUR Million) 6816.60 6480 6190 6250 5910 6110
Exports (EUR Million) 4750.34 5680 5250 5070 4510 4850
External Debt (EUR Million) 407313.05 414100 415900 416800 418300 423300
Foreign Direct Investment (EUR Million) -12.52 340 450 360 250 120
Capital Flows (EUR Million) 852.01 480 -280 320 268 287
Remittances (EUR Million) 302.50 285 307 295 399 402
Tourism Revenues (EUR Million) 1778.22 1000 1410 1950 1250 1400
Gold Reserves (Tonnes) 382.50 383 383 383 383 383
Tourist Arrivals 2326269.00 2990000 4722000 4750000 1853000 2153000
Weapons Sales (USD Million) 56.00 80 80 80 80 50
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 125.70 119 119 119 119 115
Government Budget (% of GDP) -3.00 -0.9 -0.9 -0.9 -0.9 -0.7
Government Budget Value (EUR Million) -2547.00 -1670 -3900 -2810 -2360 -2310
Government Spending (EUR Million) 8504.70 8655 8687 8666 8624 8770
Government Spending to GDP (%) 45.90 44.7 44.7 44.7 44.7 44.2
Government Revenues (EUR Million) 38928.00 10050 22050 35400 46800 47250
Government Debt (EUR Million) 248934.00 257400 259100 261900 264000 271000
Fiscal Expenditure (EUR Million) 33206.00 11720 25950 38210 49160 49560
Asylum Applications (persons) 60.00 50 51 60 40 35
Taxes Actual Q1 Q2 Q3 Q4 2020
Corporate Tax Rate (%) 21.00 21 21 21 21 21
Personal Income Tax Rate (%) 48.00 48 48 48 48 48
Sales Tax Rate (%) 23.00 23 23 23 23 23
Social Security Rate (%) 34.75 34.75 34.75 34.75 34.75 34.75
Social Security Rate For Companies (%) 23.75 23.75 23.75 23.75 23.75 23.75
Social Security Rate For Employees (%) 11.00 11 11 11 11 11
Business Actual Q1 Q2 Q3 Q4 2020
Business Confidence (Index Points) 2.20 1.9 2.2 2.5 1.5 1.5
Industrial Production (%) -2.90 2.7 2.5 2.7 2.6 2.4
Industrial Production Mom (%) -2.40 2.9 -0.2 -2.6 0.3 0.5
Manufacturing Production (%) -4.90 2.5 2.2 2.6 2.5 2.3
Capacity Utilization (%) 81.16 81 81.5 81.4 81.2 81.4
Changes in Inventories (EUR Million) 366.18 163 150 45 75 88
Car Registrations 16157.00 28600 25150 16200 23580 25420
Leading Economic Index (%) 1.90 1.7 1.8 1.9 2.2 2.4
Mining Production (%) 20.90 2.5 1.7 2.2 1.8 2
Electricity Production (Gigawatt-hour) 4859.00 4950 4700 4750 4670 4720
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (Index Points) -2.20 -2 -1.4 -0.6 -0.8 -2
Retail Sales MoM (%) 1.60 0.7 0.5 0.5 0.5 0.4
Retail Sales YoY (%) 4.10 3.2 3 2.8 2.6 2.2
Consumer Spending (EUR Million) 29467.80 29416 29458 29654 29880 30388
Personal Savings (%) 4.00 4.2 4.4 4.9 5.1 5.8
Consumer Credit (EUR Million) 116087.00 115500 115600 115700 115800 116900
Personal Spending (%) 1.40 1.8 1.7 1.8 2 2
Bank Lending Rate (%) 2.74 2.81 2.81 2.86 2.91 2.91
Disposable Personal Income (EUR Million) 40723.90 43250 43860 44150 44540 46120
Gasoline Prices (USD/Liter) 1.61 1.52 1.48 1.45 1.41 1.41
Households Debt To GDP (% of GDP) 67.70 61.1 61.1 61.1 61.1 57.8
Households Debt To Income (%) 100.95 95.1 95.1 95.1 95.1 91.9
Housing Actual Q1 Q2 Q3 Q4 2020
Construction Output (%) 4.50 3.2 3 2.6 2.2 2
Housing Index (Index points) 129.72 138 140 142 144 149
Building Permits 1622.00 1690 1720 1970 1450 1620
Home Ownership Rate (%) 74.70 74 74 74 74 73.8


This page has economic forecasts for Portugal including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Portugal economy.