Portugal , officially the Portuguese Republic, is a country located in
southwestern Europe on the Iberian Peninsula.
In 1986, Portugal joined the European Economic
Community (EEC) that later became the European Union (EU). In
the following years Portugal's economy progressed considerably as
a result of EEC/EU structural and cohesion funds and Portuguese
companies easier access to foreign markets.
On 26 March 1995, Portugal started to implement Schengen Area rules,
eliminating border controls with other Schengen members while
simultaneously strengthening border controls with non-member states.
In 1996 the country was a co-founder of the Community of Portuguese
Language Countries (CPLP) headquartered in Lisbon. Expo '98 took place
in Portugal and in 1999 it was one of the founding countries of the euro
and the eurozone.
On 5 July 2004, José Manuel Barroso, then Prime Minister of
Portugal, was nominated President of the European
Commission, the most powerful office in the European Union. On
1 December 2009, the Treaty of Lisbon entered into force, after had
been signed by the European Union member states on 13
December 2007 in the Jerónimos Monastery, in Lisbon, enhancing
the efficiency and democratic legitimacy of the Union and
improving the coherence of its action.
Economic disruption and an unsustainable government debt in the
wake of the late-2000 financial crisis led the country to negotiate
in 2011 with the IMF and the European Union, through the
European Financial Stability Mechanism (EFSM) and
the European Financial Stability Facility (EFSF), a loan to help the
country stabilise its finances.
The total population in Portugal was last recorded at 10.6 million people
in 2011 from 8.9 million in 1960, changing 19 percent during the last 50
years. Population in Portugal is reported by the World Bank.
Historically, from 1960 until 2011, Portugal Population averaged 9.8
Million reaching an all time high of 10.6 Million in December of 2010 and
a record low of 8.6 Million in December of 1972.
EURO EXCHANGE RATE |
EUR/USD | PORTUGAL
Portugal has adopted the euro. The EURUSD spot exchange rate depreciated 0.0258 or
1.97 percent during the last 30 days. Historically, from 1957 until 2013, the EURUSD
averaged 1.3600 reaching an all time high of 1.8700 in July of 1973 and a record low of
0.7000 in February of 1985. The euro is the official currency of Portugal, which is a
member of the European Union. The Euro Area refers to a currency union among the
European Union member states that have adopted the euro as their sole official
currency. In Portugal, interest rate decisions are taken by the Governing Council of the
European Central Bank
PORTUGAL GDP PER
The Gross Domestic Product per capita in Portugal was last recorded at
11558.94 US dollars in 2011. The GDP per Capita in Portugal is equivalent to 93
percent of the world's average. GDP per capita in Portugal is reported by the
World Bank. Historically, from 1960 until 2011, Portugal GDP per capita
averaged 7419.3 USD reaching an all time high of 11926.1 USD in December of
2007 and a record low of 2343.2 USD in December of 1960.
The Gross Domestic Product (GDP) in Portugal was worth 237.52 billion US dollars
in 2011. The GDP value of Portugal represents 0.38 percent of the world economy.
GDP in Portugal is reported by the The World Bank Group. Historically, from 1960
until 2011, Portugal GDP averaged 74.4 USD Billion reaching an all time high of
251.9 USD Billion in December of 2008 and a record low of 3.2 USD Billion in
December of 1960. The gross domestic product (GDP) measures of national income
and output for a given country's economy. 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.
Employed Persons in Portugal decreased to 4433.20 Thousand Persons in the
first quarter of 2013 from 4531.80 Thousand Persons in the fourth quarter of
2012. Employed Persons in Portugal is reported by the National Statistics
Office, Portugal. Historically, from 1988 until 2013, Portugal Employed Persons
averaged 4749.44 Thousand Persons reaching an all time high of 5228.10
Thousand Persons in May of 2008 and a record low of 4215.20 Thousand
Persons in February of 1994. In Portugal, employed persons are individuals
with a minimum required age who work during a certain time for a business.
Unemployment Rate in Portugal increased to 17.70 percent in the first quarter of
2013 from 16.90 percent in the fourth quarter of 2012. Unemployment Rate in
Portugal is reported by the Instituto Nacional de Estatistica.
Portugal recorded a Government Debt to GDP of 123.60 percent of the country's Gross
Domestic Product in 2012. Government Debt To GDP in Portugal is reported by the Eurostat.
Historically, from 1990 until 2012, Portugal Government Debt To GDP averaged 65.1 Percent
reaching an all time high of 120.6 Percent in December of 2012 and a record low of 48.5 Percent
in December of 2000. Generally, Government debt as a percent of GDP is used by investors to
measure a country ability to make future payments on its debt, thus affecting the country
borrowing costs and government bond yields