Portugal recorded a Current Account deficit of 1.20 percent of the country's Gross Domestic Product in 2020. source: Banco de Portugal

Current Account to GDP in Portugal averaged -4.22 percent from 1980 until 2020, reaching an all time high of 3.10 percent in 1986 and a record low of -14.70 percent in 1981. This page provides - Portugal Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Current Account to GDP - values, historical data and charts - was last updated on October of 2021.

Current Account to GDP in Portugal is expected to reach -0.80 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal Current Account to GDP is projected to trend around -0.40 percent of GDP in 2022 and 0.10 percent of GDP in 2023, according to our econometric models.

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Portugal Current Account to GDP

Portugal Last Unit Reference Previous Highest Lowest
Current Account -211.08 EUR Million Jul/21 35.94 1655.06 -2674.13
Current Account to GDP -1.20 percent of GDP Dec/20 0.40 3.10 -14.70
External Debt 415928.00 EUR Million Jun/21 409272.00 421132.40 56392.07
Foreign Direct Investment 915.50 EUR Million Jul/21 680.46 6288.05 -3307.52
Capital Flows 2227.43 EUR Million Jul/21 522.31 2227.43 -2461.82
Remittances 366.83 EUR Million Jul/21 306.20 515.40 153.66
Tourism Revenues 1152.38 EUR Million Jul/21 687.01 2982.98 179.59

Portugal Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.