The GDP figure in the second quarter of 2020 was €46,247$50,937 million, Portugal is number 35 in the ranking of quarterly GDP of the 50 countries that we publish. In the first quarter of 2020, GDP decreased by 3.8% from the previous quarter, the largest drop since quarterly series exist for the Portuguese economy. Know more about Portuguese economy, property and Golden Visa by following our channel and watching this 2020 review, summarising GDP … In Statista. Evolution: GDP growth rate at constant prices Portugal, less than the same period last year, when it was, Subscribe to our free email alert service, Malaysia: Fitch:Long Term Foreign currency Sovereign rating, Sri Lanka: S&P:Long Term Foreign currency Sovereign rating, Suriname: Fitch:Long Term Foreign currency Sovereign rating, In November of 2020, Producer price went up in China, Industrial Production increases up to -4% in October of 2020 in United Kingdom, Industrial Production increases up to -4.1% in October of 2020 in Germany, In October of 2020, Industrial Production went up in France, Industrial Production goes up in October of 2020 in Spain, Industrial Production increases up to -2.1% in October of 2020 in Italy, In October of 2020, Industrial Production fell in Greece, In September of 2020, Producer price fell in Albania, Industrial Production increases up to 5.4% in October of 2020 in Belgium, Industrial Production goes down in October of 2020 in Bulgaria, Industrial Production increases up to 1.3% in October of 2020 in Czech Republic, In October of 2020, Industrial Production went up in Finland, In October of 2020, Industrial Production went up in Hungary. Direct access to our calendar releases and historical data. Portugal gdp for 2018 was $349.54B, a 1.48% increase from 2018. Over the past decade, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. According to this parameter, its population has a low level of affluence World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. 2020 Projected Real GDP (% Change) : -10.0; 2020 Projected Consumer Prices (% Change): 0.0; Country Population: 10.261 million; Date of Membership: March 29, 1961; Article IV/Country Report: July 12, … 175. If we order the countries according to their GDP per capita, Portugal is in 30th position. Mining, specifically copper and tin, represents a good part of the country’s GDP, with Portugal being one of the largest marble exporters. - … -tenths of one percent more than the -16.5% recorded in the second quarter of 2020. Portugal grew at a faster pace than the euro zone in 2016-19, but the current public health crisis will drive a substantial contraction in real GDP, of at least 8% in 2020. ... (12/04/2020… the crisis to take place in the second quarter of 2020.Banco de Portugal pointstospecific vulnerabilitiesof the portuguese economylinked, namely, to the high exposure to the tourism sector,particularly hit by the crisis. Portugal: Economy rebounds sharply in Q3, but strong momentum will not carry into Q4. October 30, 2020. Portugal: Second estimate confirms economy rebounded sharply in Q3, but strong momentum will not carry into Q4. Portugal is the ninth largest wine exporter in the world and in the first three-quarters of 2019 wine exports recorded an increase of 3.6% in value compared to the previous year (around EUR 580 million). Furthermore, Emigrants returning in 2019 and 2020 will see their taxes halved as part of the stimulus to bring native Portuguese back and revitalize the population and promote continued economic growth – as Portugal struggles with a low birth rate and an ageing population. 2019 . Read more As of 2020, the United States and China would occupy the first two places in the world gdp ranking of both methods. The European Commission forecasts the country’s economy will shrink 6.8% this year. Portugal gdp per capita for 2019 was $23,145, a 1.35% … Italy’s economy is expected to expand to $2.26 trillion by 2023. 2.2-8.1--Euro Area. No claims are made regarding the accuracy of Portugal Economy 2020 information contained here. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. IMF. -tenths of one percent higher than the figure of -13.9% published in the first quarter of 2020. The long-lasting impact that the coronavirus will have on tourism represents a downside risk and will prevent a sharp recovery in 2021. Global growth is projected at −4.4 percent in 2020, a less severe contraction than forecast in the June 2020 World Economic Outlook (WEO) Update. The year-on-year change in GDP was -5.8%, 107 Portugal gdp for 2018 was $351.72B, a 0.62% increase from 2018. Autumn 2020 Economic Forecast Economic activity in Europe suffered a severe shock in the first half of the year and rebounded strongly in the third quarter as containment measures were gradually lifted. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. But now the economy is recovering fast better than expected both in Portugal and Europe. Publish your articles and forecasts in our website. (April 15, 2020). Economic News. With a nominal GDP of $1.99 trillion, Italy is the eighth-largest economy in the world. 3.2. Want to invest in Portugal? Portugal: Gross domestic product (GDP) in current prices from 1984 to 2021 (in billion international dollars) [Graph]. Portugal Trade Deficit Nearly Halves in October, Portugal Industrial Production Slows Sharply in October, Portugal Consumer Prices Fall Faster in November, Portugal Retail Sales Back to Contraction after Brief Gain, Portuguese Businesses More Pessimistic in November, Portugal Consumer Confidence at 4-Month Low, Yield on 10-year Portugal Government Bond Dips Below 0%, Portugal Current Account Swings to Deficit in September, Portugal Remains in Deflation for 16th Month, Portugal GDP Growth Revised Slightly Higher in Q3, Oil Prices Slide on Friday, Book Weekly Gain, US Stocks Book Weekly Loss, S&P Links Third Fall, Senegal November Inflation Rate at 5-Month Low, Spanish Shares End Lower, Fall 3.1% on the Week. That Brussels-based institution said last week that Portugal's deficit is likely to reach 6.5% of its GDP in 2020 and 1.8% in 2021. A second GDP estimate released by the National Statistics Institute on 13 November showed the economy rebounded 13.3% in seasonally-adjusted quarter-on-quarter terms in Q3, after contracting 13.9% in Q2. GDP Constant Prices (EUR Million) 47929.30. Portugal. The population is distributed along the horizontal axis, with males shown on the left and females on the right. Portugal’s economic freedom score is 67.0, making its economy the 56th freest in the 2020 Index. In 2020, the United States and China would remain the largest economy in nominal and PPP, respectively. In the long-term, the Portugal GDP is projected to trend around 210.00 USD Billion in 2021 and 230.00 USD Billion in 2022, according to our econometric models. The economy of Portugal is ranked 42nd in the World Economic Forum's Global Competitiveness Report for 2017–2018.. 2) The rank that you see is the CIA reported rank, which may have the following issues: 1.3-8.0. Harmonized index of consumer prices . The gross domestic product (GDP) measures of national income and output for a given country's economy. Data cited at: World Economic Outlook, October 2020, The International Monetary Fund. The year-on-year change in GDP was -5.8%, 107 -tenths of one percent more than the -16.5% recorded in the second quarter of 2020. Gross Domestic Product of Portugal grew 13.2% in the second quarter of 2020 compared to the previous quarter. The GDP fell in Portugal for example 16 percent 8 percent compared to last year. Portugal. The Trading Economics Application Programming Interface (API) provides direct access to our data. In the baseline scenario,real GDP is estimated to decrease by 3.7% in 2020.It is assumed that the economic Near-term outlook. In exchange rate methods, the Largest economy, the United States, represents a quarter share of the global economy, while the smallest economy Tuvalu contributes only to only 0.00005 percent. Portugal has become a diversified and increasingly service-based economy since joining the European Community in 1986. Economic forecast for Portugal; Economic forecast for Portugal. The Banco de Portugal released its forecasts for the Portuguese economy last week, estimating a fall of 8.0% in GDP in 2020, improving on its previous forecast of 9.5%. 210. Portugal. This rate is 271 -tenths of one percent higher than the figure of -13.9% published in the first quarter of 2020. Gross Domestic Product of Portugal grew 13.2% in the second quarter of 2020 compared to the previous quarter. GDP in Portugal is expected to reach 175.00 USD Billion by the end of 2020, according to Trading Economics global macro models and analysts expectations. 210. 5.0. Portugal Economy . 1960-2019 Data | 2020-2022 Forecast | Historical | Chart | News. The US and China's margin is coming down in nominal ranking as China's gdp growth rate of 2020 (1.85%) is much higher than the US's -4.27%. Portugal gdp for 2018 was $344.44B, a 0.98% increase from 2017. A GDP estimate released by the National Statistics Institute on 30 October showed the economy rebounded 13.2% in seasonally-adjusted quarter-on-quarter terms in Q3, after contracting 13.9% in Q2. 0.3. 210. compare to the 50 countries whose quarterly GDP we publish. A population pyramid illustrates the age and sex structure of a country's population and may provide insights about political and social stability, as well as economic development. Portugal's central bank revised its June forecast of a 9.5% GDP contraction to a slightly less pessimistic 8.1% on Tuesday, citing a better than expected recovery from lockdown. Portugal gdp for 2018 was $354.79B, a 0.87% increase from 2018. The European Commission forecasts the Portuguese economy to fall by 9.8% in 2020, a contraction above its previous projection of 6.8%. 2020 (p) 2021 (p) 2022 (p) Gross domestic product . Portugal GDP (Gross Domestic Product) was INT$287.76billion for 2019 in PPP terms. Portugal has a quarterly GDP per capita, of €4,492$4,492, less than the same period last year, when it was €5,148 $5,148 . This rate is 271 0.0 Download historical data for 20 million indicators using your browser. 210. The Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July). All suggestions for corrections of any errors about Portugal Economy 2020 should be addressed to the CIA or the source cited on each page. November 13, 2020. Current projections point to a 9.5% reduction in GDP in 2020, reflecting the very marked negative impact of the pandemic in the first half of the year. You can see GDP in other countries in GDP and see all the economic information about Portugal in Portugal's economy. Gross domestic product (GDP) growth rate in Portugal 2021 Published by H. Plecher , May 20, 2020 Here we show you the progression of the GDP in Portugal. GDP (USD Billion) 237.69. In terms of GDP (PPP) Italy’s economy is worth $2.40 trillion and its per capita GDP is $34,260.34. 2020 António Afonso (EconPol Europe, Lisbon School of Economics and Management of the Universidade de Lisboa) has estimated the real growth rate of GDP in Portugal in 2020 and predicts a budget deficit of around 3% or 4% of GDP, implying a break and not a fiscal regime switch. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. This is the population pyramid for Portugal. 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