Portugal: economy

What is Portugal's GDP growth rate?

Portugal's GDP was 2.6% higher in the second quarter of 2026 than a year earlier, and 0.9% higher than in the first quarter, according to Eurostat, which publishes Statistics Portugal's national accounts. Growth was 2.4% year on year in the first quarter.

The figures are in chain-linked volumes, so price changes are removed, and are seasonally and calendar adjusted. Quarterly figures are revised as more data arrive. In its 2027 budget proposal of 10 October 2026, the Government of Portugal says it expects growth above 2%. Statistics Portugal (INE, ine.pt) is the national statistics office; its site could not be reached on 15 October 2026.

Official sources: Eurostat: GDP and main components, quarterly (namq_10_gdp) · Government of Portugal: 2027 budget proposal

What is the inflation rate in Portugal?

Consumer prices in Portugal were 3.6% higher in September 2026 than a year earlier, the same rate as in August, according to Eurostat's harmonised index of consumer prices (HICP). The rate was 3.1% in June and July.

The HICP uses the same method in every EU country, so it can be compared across the euro area; it is the measure the European Central Bank targets at 2%. Statistics Portugal also publishes a national consumer price index (CPI), whose rate can differ slightly because it weights household spending differently, for example leaving out spending by tourists. The government's 2027 budget proposal assumes inflation of 2.3%.

Official sources: Eurostat: HICP monthly data, annual rate of change (prc_hicp_minr) · Government of Portugal: 2027 budget proposal

What is Portugal's GDP per person?

Portugal's GDP per person was €28,560 in 2025, at current prices, according to Eurostat. Adjusted for price differences between countries, it was 81.6% of the EU average, down from 82.5% in 2024 and up from 74.5% in 2020.

The price-adjusted figure uses purchasing power standards (PPS), an artificial currency in which a unit buys the same amount in every EU country, so it is the better measure for comparing living standards. The euro figure is not adjusted for inflation. Portugal's population was 10,804,871 in 2025, according to the World Bank. The World Bank and IMF publish their own per-person figures in US dollars.

Official sources: Eurostat: Main GDP aggregates per capita (nama_10_pc) · World Bank: Population, total

What growth does the government forecast for Portugal in 2027?

The Government of Portugal expects the economy to grow by more than 2% and unemployment to fall from 5.8% to 5.7%, according to its 2027 State Budget proposal, presented on 10 October 2026. It assumes inflation of 2.3%.

These are government projections that the budget is built on, not measured outcomes. Parliament debates and votes on the budget in the autumn. The Banco de Portugal and international bodies such as the IMF, OECD and European Commission publish their own forecasts, which can differ. Measured growth is published by Statistics Portugal and Eurostat each quarter.

Official sources: Government of Portugal: 2027 budget proposal · Eurostat: GDP and main components, quarterly (namq_10_gdp)

How fast is Portugal's economy growing?

1.9%: that is real GDP growth in Portugal for 2025, according to the World Bank. The peak was 7.0% in 2022 and the low -8.2% in 2020. Europe & Central Asia median: 2.1%; Portugal is 27th highest of 49. Of 180 countries with 2025 data, 132nd highest.

What is GDP per capita in Portugal?

In 2025, GDP per person in Portugal was $32,082, according to the World Bank. It is the top of the series, which starts in 2005. It is 23rd highest of 49 in Europe & Central Asia, where the median is $28,420. World rank, highest first: 37th of 180.

What is Portugal's GDP per capita at PPP?

According to the World Bank, GDP per person at purchasing power parity in Portugal was $53,146 in international dollars in 2025. No year since 2005 has been higher. Across Europe & Central Asia the middle value was $50,946 in international dollars, and Portugal placed 23rd highest of 49. Worldwide: 38th of 179.

What share of Portugal's economy is exports?

The World Bank puts exports of goods and services in Portugal at 43.7% of GDP in 2025. The peak was 49.5% of GDP in 2022 and the low 27.1% of GDP in 2005. It is 26th highest of 46 in Europe & Central Asia, where the median is 47.7% of GDP. World rank, highest first: 46th of 133.

Does Portugal earn more abroad than it spends?

The latest figure from the IMF, for 2025, is 1.2% of GDP. Since 2005 it has ranged from -11.9% of GDP (2008) to 2.5% of GDP (2024). Europe & Central Asia median: -0.3% of GDP; Portugal is 17th highest of 47. Worldwide: 45th of 132.

How much foreign direct investment goes into Portugal?

The IMF puts net inflows of foreign direct investment in Portugal at 3.5% of GDP in 2025. The peak was 7.2% of GDP in 2012 and the low 0.6% of GDP in 2015. Across Europe & Central Asia the middle value was 1.9% of GDP, and Portugal placed 12th highest of 49. World rank, highest first: 55th of 179.