Introduction
Background
Following its heyday as a global maritime power during the 15th and 16th centuries, Portugal lost much of its wealth and status with the destruction of Lisbon in a 1755 earthquake, occupation during the Napoleonic Wars, and the independence of Brazil, its wealthiest colony, in 1822. Portugal is a founding member of NATO and entered the EC (now the EU) in 1986.
Geography
Area
total: 92,090 sq km
land: 91,470 sq km
water: 620 sq km
Climate
maritime temperate; cool and rainy in north, warmer and drier in south
Natural resources
fish, forests (cork), iron ore, copper, zinc, tin, tungsten, silver, gold, uranium, marble, clay, gypsum, salt, arable land, hydropower
People and Society
Population
10,223,150 (2023 est.)
Ethnic groups
Portuguese 95%; citizens from Portugal’s former colonies in Africa, Asia (Han Chinese), and South America (Brazilian) and other foreign born 5%
Languages
Portuguese (official), Mirandese (official, but locally used)
Religions
Roman Catholic 79.7%, Protestant 2.2%, other Christian 2.5%, other non-Christian, 1.1%, none 14.5% (2021 est.)
Population growth rate
-0.17% (2023 est.)
Government
Government type
semi-presidential republic
Capital
name: Lisbon
Executive branch
chief of state: President Marcelo REBELO DE SOUSA (since 9 March 2016)
head of government: Prime Minister Antonio Luis Santos da COSTA (since 24 November 2015; resigned on 7 November 2023 but remains in caretaker status until new elections on 10 March 2024)
Legislative branch
description: unicameral Assembly of the Republic or Assembleia da Republica (230 seats; 226 members directly elected in multi-seat constituencies by closed-list proportional representation vote and 4 members - 2 each in 2 constituencies representing Portuguese living abroad - directly elected by proportional representation vote; members serve 4-year terms)
Economy
Economic overview
fast-growing, high-income European economy; EU and NATO member; heavy Chinese infrastructure ownership; key tourism, banking, and telecommunications sectors; declining populations; major energy exporter
Real GDP (purchasing power parity)
$347.694 billion (2021 est.)
$329.623 billion (2020 est.)
$359.46 billion (2019 est.)
Real GDP per capita
$33,700 (2021 est.)
$32,000 (2020 est.)
$34,900 (2019 est.)
Agricultural products
milk, tomatoes, olives, grapes, maize, potatoes, pork, apples, oranges, poultry
Industries
textiles, clothing, footwear, wood and cork, paper and pulp, chemicals, fuels and lubricants, automobiles and auto parts, base metals, minerals, porcelain and ceramics, glassware, technology, telecommunications; dairy products, wine, other foodstuffs; ship construction and refurbishment; tourism, plastics, financial services, optics
Remittances
0.31% of GDP (2021 est.)
0.32% of GDP (2020 est.)
0.26% of GDP (2019 est.)
Exports
$105.648 billion (2021 est.)
$85.128 billion (2020 est.)
$104.846 billion (2019 est.)
Exports - partners
Spain 26%, France 12%, Germany 12%, United States 6%, United Kingdom 5% (2021)
Exports - commodities
cars and vehicle parts, refined petroleum, leather footwear, tires, paper (2021)
Imports
$112.413 billion (2021 est.)
$89.515 billion (2020 est.)
$103.009 billion (2019 est.)
Imports - partners
Spain 31%, Germany 12%, France 6%, Italy 5%, Netherlands 5% (2021)
Imports - commodities
crude petroleum, cars and vehicle parts, refined petroleum, packaged medicines, natural gas (2021)
Exchange rates
euros (EUR) per US dollar -
Exchange rates:
0.845 (2021 est.)
0.876 (2020 est.)
0.893 (2019 est.)
0.847 (2018 est.)
0.885 (2017 est.)
Page last updated: Tuesday, December 12, 2023
