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# Portugal Economy

> Portugal economic indicators: GDP $346.6B, inflation 3.0%, unemployment 5.7%, policy rate 2.3%. 51 official series with history to 1956,… Updated Aug 2026.

## Indicators

| Indicator | Last | Date | Previous | Highest | Lowest |
| --- | --- | --- | --- | --- | --- |
| Business Confidence | -5.00 | Aug 2026 | -4.20 | 19.80 (Mar 1987) | -38.60 (May 2020) |
| Industrial Production MoM | -0.3% | Jul 2026 | -4.3% | 17.8% (Jan 2005) | -24.1% (Apr 2020) |
| Manufacturing Production YoY | -2.7% | Jul 2026 | -2.3% | 50.8% (Apr 2021) | -36.3% (Apr 2020) |
| Consumer Confidence | -20.40 | Aug 2026 | -19.50 | 7.10 (Oct 1987) | -47.80 (Oct 2012) |
| Retail Sales MoM | 0.0% | Jul 2026 | 1.3% | 18.2% (Jan 2005) | -18.7% (Apr 2020) |
| Retail Sales YoY | 3.0% | Jul 2026 | 2.7% | 30.3% (Apr 2021) | -24.5% (Apr 2020) |
| Age-dependency ratio | 60.4% | Dec 2025 | 59.6% | 62.2% (Dec 1969) | 48.2% (Dec 1999) |
| Total fertility rate | 1.41 births per woman | Dec 2024 | 1.45 births per woman | 3.23 births per woman (Dec 1962) | 1.21 births per woman (Dec 2013) |
| Life expectancy at birth | 82.38 years | Dec 2024 | 82.33 years | 82.38 years (Dec 2024) | 62.67 years (Dec 1961) |
| Total population | 10.8M | Dec 2025 | 10.7M | 10.8M (Dec 2025) | 8.6M (Dec 1972) |
| Working-age population | 6.7M | Dec 2025 | 6.7M | 7.0M (Dec 2008) | 5.3M (Dec 1972) |
| Current account % GDP | 2.1% | Dec 2024 | 0.6% | 3.0% (Dec 1986) | -14.7% (Dec 1981) |
| Current Account Goods | $-8.9B | Mar 2026 | $-8.5B | $-327.0M (Dec 1977) | $-9.8B (Jun 2008) |
| Current Account Services | $7.5B | Mar 2026 | $8.1B | $13.2B (Sep 2025) | $-62.4M (Mar 1991) |
| FDI inflows | $13.5B | Dec 2024 | $11.6B | $15.6B (Dec 2012) | $28.9M (Dec 1970) |
| Gold Reserves | $49.9B | Jul 2026 | $49.6B | $64.1B (Feb 2026) | $5.1B (Mar 2001) |
| Personal remittances, received | $1.8B | Dec 2024 | $1.7B | $4.8B (Dec 1992) | $248.1M (Dec 1999) |
| Tourism Revenues | $6.1B | Mar 2026 | $6.5B | $13.1B (Sep 2025) | $46.2M (Jun 1976) |
| CO2 emissions | 35.56 Mt CO₂ | Dec 2024 | 37.41 Mt CO₂ | 67.83 Mt CO₂ (Dec 2005) | 17.49 Mt CO₂ (Dec 1970) |
| Energy use per capita | 1,815 kg oil eq. per capita | Dec 2024 | 1,853 kg oil eq. per capita | 2,519 kg oil eq. per capita (Dec 2005) | 1,681 kg oil eq. per capita (Dec 1990) |
| Budget balance % GDP | 0.3% | Dec 2025 | 0.5% | 1.3% (Dec 2023) | -11.4% (Dec 2010) |
| Government debt % GDP | 89.9% | Dec 2025 | 93.5% | 134.1% (Dec 2020) | 54.2% (Dec 2000) |
| Military expenditure | 1.5% | Dec 2024 | 1.5% | 4.5% (Dec 1968) | 1.2% (Dec 2017) |
| Military expenditure, current USD | $4.6B | Dec 2024 | $4.2B | $4.6B (Dec 2024) | $79.4M (Dec 1960) |
| Government Spending to GDP | 43.7% | Dec 2025 | 42.5% | 52.5% (Dec 1986) | 41.5% (Dec 1989) |
| Tax revenue % GDP | 22.3% | Dec 2024 | 22.7% | 23.2% (Dec 2022) | 11.5% (Dec 1973) |
| House Price Index | 291 | Mar 2026 | 280 | 291 (Mar 2026) | 92.25 (Jun 2013) |
| House Price Index YoY | 17.8% | Mar 2026 | 18.9% | 18.9% (Dec 2025) | -8.3% (Jun 2012) |
| Policy / benchmark interest rate | 2.3% | Aug 2026 | 2.3% | 4.8% (Apr 2001) | 0.0% (Jun 2022) |
| Unemployment rate | 5.7% | Jul 2026 | 5.7% | 18.4% (Feb 2013) | 4.8% (Mar 1992) |
| Private credit / GDP | 77.1% | Dec 2024 | 80.2% | 159.9% (Dec 2009) | 77.1% (Dec 2024) |
| Official / period-average FX vs USD | 0.86 per USD | Aug 2026 | 0.88 per USD | 1.48 per USD (Mar 1985) | 0.63 per USD (Jul 2008) |
| Foreign-exchange reserves (ex-gold) | $63.1B | Jul 2026 | $64.1B | $80.1B (Feb 2026) | $9.3B (Aug 2007) |
| GDP From Agriculture | 97.9% | Jun 2026 | 98.3% | 113.5% (Jun 1996) | 96.4% (Dec 2025) |
| GDP From Construction | 144.6% | Jun 2026 | 144.2% | 223.5% (Sep 2001) | 97.7% (Dec 2014) |
| GDP, current prices, USD | $346.6B | Dec 2025 | $313.7B | $346.6B (Dec 2025) | $3.3B (Dec 1960) |
| Full-Year GDP Growth | 1.9% | Dec 2025 | 2.2% | 7.9% (Dec 1990) | -8.2% (Dec 2020) |
| GDP From Manufacturing | 118.6% | Jun 2026 | 117.4% | 118.6% (Jun 2026) | 76.1% (Mar 1995) |
| GDP per capita, PPP | Int$53,146 | Dec 2025 | Int$52,513 | Int$53,146 (Dec 2025) | Int$11,780 (Dec 1990) |
| GDP per capita, current USD | $32,082 | Dec 2025 | $29,328 | $32,082 (Dec 2025) | $377 (Dec 1960) |
| GDP, PPP, international $ | Int$574.2B | Dec 2025 | Int$561.6B | Int$574.2B (Dec 2025) | Int$117.6B (Dec 1990) |
| GDP From Public Administration | 118.8% | Jun 2026 | 118.4% | 118.8% (Jun 2026) | 86.0% (Mar 1995) |
| Real GDP growth, YoY | 2.3% | Mar 2026 | 1.9% | 16.5% (Jun 2021) | -17.6% (Jun 2020) |
| Inflation rate, CPI YoY | 3.0% | Jul 2026 | 3.2% | 51.3% (May 1977) | -1.7% (Sep 2009) |
| Hospital beds per 1,000 | 3.48 per 1,000 people | Dec 2022 | 3.49 per 1,000 people | 4.10 per 1,000 people (Dec 1989) | 3.32 per 1,000 people (Dec 2014) |
| Health expenditure % GDP | 10.2% | Dec 2024 | 10.0% | 11.2% (Dec 2021) | 8.6% (Dec 2000) |
| ICT goods exports, % of goods exports | 3.7% | Dec 2024 | 3.4% | 8.4% (Dec 2006) | 2.3% (Dec 2014) |
| ICT service exports, % of service exports | 8.5% | Dec 2024 | 8.6% | 12.0% (Dec 2021) | 2.4% (Dec 2001) |
| Industrial production YoY | -1.5% | Jul 2026 | -1.2% | 42.8% (Apr 2021) | -32.9% (Apr 2020) |
| Research & development expenditure % GDP | 1.7% | Dec 2023 | 1.7% | 1.7% (Dec 2023) | 0.5% (Dec 1996) |
| High-technology exports, % of manufactured exports | 6.8% | Dec 2024 | 6.7% | 8.6% (Dec 2007) | 4.1% (Dec 2010) |

## Full detail pages

- [Business Confidence](/portugal/business-confidence.md)
- [Industrial Production MoM](/portugal/industrial-production-mom.md)
- [Manufacturing Production YoY](/portugal/manufacturing-production.md)
- [Consumer Confidence](/portugal/consumer-confidence.md)
- [Retail Sales MoM](/portugal/retail-sales.md)
- [Retail Sales YoY](/portugal/retail-sales-annual.md)
- [Age Dependency Ratio](/portugal/age-dependency-ratio.md)
- [Fertility Rate](/portugal/total-fertility-rate.md)
- [Life Expectancy](/portugal/life-expectancy-at-birth.md)
- [Population](/portugal/population.md)
- [Working-Age Population](/portugal/working-age-population.md)
- [Current Account to GDP](/portugal/current-account-pct-gdp.md)
- [Current Account Goods](/portugal/current-account-goods.md)
- [Current Account Services](/portugal/current-account-services.md)
- [FDI Inflows](/portugal/fdi-inflows.md)
- [Gold Reserves](/portugal/gold-reserves.md)
- [Remittances](/portugal/personal-remittances-received.md)
- [Tourism Revenues](/portugal/tourism-revenues.md)
- [CO2 Emissions](/portugal/co2-emissions.md)
- [Energy Use per Capita](/portugal/energy-use-per-capita.md)
- [Government Budget](/portugal/budget-balance-pct-gdp.md)
- [Government Debt to GDP](/portugal/government-debt-to-gdp.md)
- [Military Expenditure](/portugal/military-expenditure.md)
- [Military Expenditure (USD)](/portugal/military-expenditure-usd.md)
- [Government Spending to GDP](/portugal/government-spending-to-gdp.md)
- [Tax Revenue to GDP](/portugal/tax-revenue-pct-gdp.md)
- [House Price Index](/portugal/house-price-index.md)
- [House Price Index YoY](/portugal/house-price-index-yoy.md)
- [Interest Rate](/portugal/interest-rate.md)
- [Unemployment Rate](/portugal/unemployment-rate.md)
- [Private Credit to GDP](/portugal/private-credit-gdp.md)
- [Exchange Rate](/portugal/exchange-rate.md)
- [Foreign Exchange Reserves](/portugal/foreign-exchange-reserves.md)
- [GDP From Agriculture](/portugal/gdp-from-agriculture.md)
- [GDP From Construction](/portugal/gdp-from-construction.md)
- [GDP](/portugal/gdp.md)
- [Full-Year GDP Growth](/portugal/full-year-gdp-growth.md)
- [GDP From Manufacturing](/portugal/gdp-from-manufacturing.md)
- [GDP per Capita PPP](/portugal/gdp-per-capita-ppp.md)
- [GDP per Capita](/portugal/gdp-per-capita-current-usd.md)
- [GDP PPP](/portugal/gdp-ppp-international.md)
- [GDP From Public Administration](/portugal/gdp-from-public-administration.md)
- [GDP Growth Rate](/portugal/gdp-growth-rate.md)
- [Inflation Rate](/portugal/inflation-rate.md)
- [Hospital Beds](/portugal/hospital-beds-per-1-000.md)
- [Health Expenditure](/portugal/health-expenditure-pct-gdp.md)
- [ICT Goods Exports](/portugal/ict-goods-exports-share.md)
- [ICT Service Exports](/portugal/ict-service-exports-share.md)
- [Industrial Production](/portugal/industrial-production-yoy.md)
- [R&D Expenditure](/portugal/rd-expenditure-pct-gdp.md)
- [High-Tech Exports](/portugal/high-tech-exports-share.md)

## FAQ

**What is the current inflation rate in Portugal?**

Portugal's consumer price inflation is 3.0% year-on-year as of Jul 2026.

**How big is Portugal's economy?**

Portugal's nominal GDP was $346.6B in 2025.

**What is the unemployment rate in Portugal?**

Portugal's unemployment rate is 5.7% as of Jul 2026.

**Where does this data come from?**

We use primary economic sources for every country. See our methodology page for how we source and verify it.

---
Full history via API: `GET https://api.economicsapi.com/v1/history?country=portugal&indicator={indicator}`. Same data as an MCP tool, one per indicator.