Markets Actual Q3 Q4 Q1 Q2 2020
Currency 1.13 1.13 1.13 1.12 1.12 1.11
Stock Market (points) 5220.59 5085 5033 4982 4931 4831
Government Bond 10Y (%) 0.47 0.49 0.51 0.53 0.54 0.58
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) 0.50 0.4 0.5 0.4 0.4 0.4
GDP Annual Growth Rate (%) 1.80 1.8 1.8 1.8 1.7 1.8
Unemployment Rate (%) 6.80 5.6 6.5 6.8 6.8 6
Inflation Rate (%) 0.40 0.8 1 1.2 1.4 1.5
Inflation Rate Mom (%) 0.00 0.6 0.5 0.6 0.6 0.4
Interest Rate (%) 0.00 0 0 0 0 0.25
Balance of Trade (EUR Million) -1631.25 -1180 -1400 -880 -920 -1460
Current Account (EUR Million) -1563.85 551 -110 -100 -100 -90
Current Account to GDP (%) -0.60 -0.2 -0.2 -0.4 -0.4 -0.4
Government Debt to GDP (%) 121.50 119 119 117 117 117
Government Budget (% of GDP) -0.50 -0.4 -0.4 -0.1 -0.1 -0.1
Business Confidence (Index Points) 2.40 2.5 1.5 1.4 1.4 1.1
Consumer Confidence (Index Points) -8.30 -10 -7 -8 -9 -6
Retail Sales MoM (%) 1.40 -1.6 0.8 1 1 -1.2
Corporate Tax Rate (%) 21.00 21 21 21 21 21
Personal Income Tax Rate (%) 48.00 48 48 48 48 48
GDP Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) 0.50 0.4 0.5 0.4 0.4 0.4
GDP Annual Growth Rate (%) 1.80 1.8 1.8 1.8 1.7 1.8
GDP (USD Billion) 237.98 245 245 251 251 251
GDP Constant Prices (EUR Million) 46448.80 46309 46970 46924 47016 47815
Gross Fixed Capital Formation (EUR Million) 8896.70 8250 8286 8278 8294 8435
GDP per capita (USD) 23737.70 24500 24500 25100 25100 25100
GDP per capita PPP (USD) 28687.50 29100 29100 29600 29600 29600
GDP From Agriculture (EUR Million) 832.70 841 847 846 848 862
GDP From Construction (EUR Million) 1779.80 1635 1696 1694 1698 1726
GDP From Manufacturing (EUR Million) 5604.70 5669 5762 5757 5768 5866
GDP From Services (EUR Million) 8781.60 8636 8821 8812 8830 8980
GDP From Transport (EUR Million) 3314.00 3353 3378 3375 3382 3439
GDP From Utilities (EUR Million) 1235.10 1239 1275 1274 1277 1298
Gross National Product (EUR Million) 50051.60 51648 52297 52246 52349 53239
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 6.80 5.6 6.5 6.8 6.8 6
Unemployed Persons (Thousand ) 328.20 306 295 291 291 275
Employment Rate (%) 55.10 55.8 55.4 55.2 55.2 55.7
Labor Force Participation Rate (%) 59.10 59.5 59.2 59.1 59.1 59.4
Long Term Unemployment Rate (%) 2.70 2.5 2.5 2.4 2.4 2.2
Youth Unemployment Rate (%) 18.70 16 15.4 15 15 14.2
Labour Costs (Index Points) 96.70 98.92 115 115 115 117
Wages (EUR/Month) 1166.86 1177 1179 1181 1181 1205
Wage Growth (%) 4.90 2.3 2.5 2.6 2.6 2.2
Wages in Manufacturing (Index Points) 110.96 106 150 107 107 154
Minimum Wages (EUR/Month) 700.00 700 700 725 725 725
Population (Million) 10.29 10.28 10.27 10.25 10.25 10.25
Retirement Age Women 66.42 66.42 66.42 66.42 66.42 66.42
Retirement Age Men 66.42 66.42 66.42 66.42 66.42 66.42
Wages High Skilled (EUR/Month) 1430.00 1371 1466 1467 1467 1498
Unemployment Change -8926.00 -6600 -3400 -7800 -7800 -2600
Wages Low Skilled (EUR/Month) 659.00 640 675 676 676 690
Living Wage Family (EUR/Month) 990.00 982 1015 1016 1016 1037
Living Wage Individual (EUR/Month) 670.00 665 687 687 687 702
Employment Change (%) 0.40 0.5 0.6 0.4 0.4 0.5
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 0.40 0.8 1 1.2 1.4 1.5
Inflation Rate Mom (%) 0.00 0.6 0.5 0.6 0.6 0.4
Consumer Price Index CPI (Index Points) 104.70 105 105 105 106 106
Core Consumer Prices (Index Points) 104.95 106 106 104 104 107
Core Inflation Rate (%) 0.61 1.6 1.6 1.7 1.7 1.8
Producer Prices (Index Points) 103.50 107 106 105 105 108
Producer Prices Change (%) -0.20 2.1 1.8 2 1.7 1.9
CPI Housing Utilities (Index Points) 108.52 109 110 110 110 112
CPI Transportation (Index Points) 102.35 103 102 103 104 103
Food Inflation (%) 0.40 0.8 1 1.2 1.2 1.5
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 0.00 0 0 0 0 0.25
Interbank Rate (%) -0.36 -0.31 -0.31 -0.06 -0.33 -0.06
Money Supply M2 (EUR Million) 229294.00 268800 274100 274100 274100 293300
Banks Balance Sheet (EUR Million) 366162.00 411200 415200 415200 415200 429200
Loans to Private Sector (EUR Million) 69019.00 89950 91111 70843 70550 98200
Private Debt to GDP (%) 248.20 248 248 244 244 244
Loan Growth (%) -0.10 0.7 1 1.5 1.5 1.7
Central Bank Balance Sheet (EUR Million) 111731.00 128500 132600 132600 132600 151250
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (EUR Million) -1631.25 -1180 -1400 -880 -920 -1460
Current Account (EUR Million) -1563.85 551 -110 -100 -100 -90
Current Account to GDP (%) -0.60 -0.2 -0.2 -0.4 -0.4 -0.4
Imports (EUR Million) 7257.77 6250 5910 6420 6320 6110
Exports (EUR Million) 5626.52 5070 4510 5540 5400 4650
External Debt (EUR Million) 414409.79 416800 418300 419100 420196 423300
Foreign Direct Investment (EUR Million) 430.87 360 250 380 550 120
Tourism Revenues (EUR Million) 1632.65 1950 1250 1200 1510 1400
Gold Reserves (Tonnes) 382.50 383 383 383 383 383
Tourist Arrivals 4850055.00 4750000 1853000 3120000 3120000 2153000
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 121.50 119 119 117 117 117
Government Budget (% of GDP) -0.50 -0.4 -0.4 -0.1 -0.1 -0.1
Government Spending (EUR Million) 8534.60 8567 8686 8677 8694 8842
Government Spending to GDP (%) 44.00 44.2 44.2 44 44 44
Government Debt (EUR Million) 250358.00 261900 264000 267000 267000 271000
Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2020
Business Confidence (Index Points) 2.40 2.5 1.5 1.4 1.4 1.1
Industrial Production (%) -0.60 0.5 1.5 2 1.9 1.8
Industrial Production Mom (%) -0.60 -2.6 0.3 2.7 2.7 0.5
Manufacturing Production (%) -0.30 0.9 1.7 2.2 1.9 2
Changes in Inventories (EUR Million) 488.30 45 75 55 55 88
Car Registrations 22724.00 16200 19580 29400 29400 22420
Leading Economic Index (%) 2.30 1.9 2.2 2.1 2.1 2.4
Mining Production (%) 1.30 2.2 1.8 1.5 2 2
Car Production (Units) 26000.00 25900 19500 24100 24100 21200
Consumer Actual Q3 Q4 Q1 Q2 2020
Consumer Confidence (Index Points) -8.30 -10 -7 -8 -9 -6
Retail Sales MoM (%) 1.40 -1.6 0.8 1 1 -1.2
Retail Sales YoY (%) 4.40 2.8 2.6 2.5 2.5 2.2
Consumer Spending (EUR Million) 29980.10 29667 30356 30326 30386 30903
Consumer Credit (EUR Million) 115132.00 116017 117274 116949 117219 119385
Personal Spending (%) 1.50 1.8 2 2.1 2.1 2
Bank Lending Rate (%) 2.61 2.76 2.76 3.01 2.7 3.01
Disposable Personal Income (EUR Million) 43192.90 40982 42489 42447 42531 43254
Gasoline Prices (USD/Liter) 1.69 1.58 1.55 1.51 1.51 1.51
Households Debt To GDP (% of GDP) 66.90 61.1 61.1 57.8 57.8 57.8
Households Debt To Income (%) 98.26 95.1 95.1 91.9 91.9 91.9
Housing Actual Q3 Q4 Q1 Q2 2020
Construction Output (%) 3.70 2.6 2.2 2 2 2
Housing Index (Index points) 137.14 142 144 145 145 149
Building Permits 1861.00 1970 1450 1720 1720 1620
Home Ownership Rate (%) 74.50 74 74 73.8 73.8 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.