This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of the Portugal were reviewed by the Committee on 24 October 2016. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 15 November 2016.

The Secretariat’s draft report was prepared for the Committee by Jens Arnold and Sónia Araújo under the supervision of Pierre Beynet. Research assistance was provided by Desney Wilkinson-Erb, Corinne Chanteloup, Gabor Fulop and Daniela Crosera and secretarial assistance was provided by Sylvie Ricordeau and Amelia Godber.

The previous Survey of the Portugal was issued in October 2014.

  
Basic statistics of Portugal, 2015
(Numbers in parentheses refer to the OECD average)*

LAND, PEOPLE AND ELECTORAL CYCLE

Population (million)

10.4

Population density per km2 (2014)

113.1

(36.8)

Under 15 (%)

14.2

(18.0)

Life expectancy (years, 2014)

81.2

(80.6)

Over 65 (%)

20.5

(16.3)

Men

78.0

(77.9)

Foreign-born (%, 2011)

8.3

Women

84.4

(83.3)

Latest 5-year average growth (%)

-0.4

(0.6)

Latest general election

October 2015

ECONOMY

Gross domestic product (GDP)

Value added shares (%)

In current prices (billion USD)

199.2

Primary sector

2.3

(2.5)

In current prices (billion EUR)

179.5

Industry including construction

22.3

(26.8)

Latest 5-year average real growth (%)

-0.9

(1.8)

Services

75.4

(70.7)

Per capita (000 USD PPP)

29.2

(40.5)

 

GENERAL GOVERNMENT

Per cent of GDP

Expenditure

48.4

(42.0)

Gross financial debt

151.2

(115.2)

Revenue

44.0

(39.0)

Net financial debt

108.5

(75.7)

EXTERNAL ACCOUNTS

Exchange rate (EUR per USD)

0.901

Main exports (% of total merchandise exports)

PPP exchange rate (USA = 1)

0.593

Machinery and transport equipment

25.9

In per cent of GDP

Manufactured goods

23.0

Exports of goods and services

40.6

(54.9)

Miscellaneous manufactured articles

17.6

Imports of goods and services

39.8

(50.4)

Main imports (% of total merchandise imports)

Current account balance

0.4

(0.1)

Machinery and transport equipment

27.6

Net international investment position (2014)

-103.5

Manufactured goods

15.4

Chemicals and related products, n.e.s.

14.4

LABOUR MARKET, SKILLS AND INNOVATION

Employment rate for 15-64 year-olds (%)

63.9

(66.2)

Unemployment rate, Labour Force Survey (age 15 and over) (%)

12.4

(6.8)

Men

66.9

(74.1)

Youth (age 15-24, %)

32.0

(13.9)

Women

61.1

(58.5)

Long-term unemployed (1 year and over, %)

7.1

(2.2)

Participation rate for 15-64 year-olds (%)

73.4

(71.3)

Tertiary educational attainment 25-64 year-olds (%)

22.9

(35.0)

Average hours worked per year

1 868

(1 766)

Gross domestic expenditure on R&D (% of GDP, 2014)

1.3

(2.4)

ENVIRONMENT

Total primary energy supply per capita (toe)

2.1

(4.1)

CO2 emissions from fuel combustion per capita (tonnes, 2013)

4.3

(9.6)

Renewables (%)

21.5

(9.6)

Water abstractions per capita (1 000 m3, 2007)

0.9

Fine particulate matter concentration (PM2.5, μg/m3, 2013)

9.9

(14.0)

Municipal waste per capita (tonnes, 2014)

0.5

(0.5)

SOCIETY

Income inequality (Gini coefficient, 2013)

0.342

(0.311)

Education outcomes (PISA score, 2015)

Relative poverty rate (%, 2013)

13.6

(11.1)

Reading

498

(493)

Median disposable household income (000 USD PPP, 2013)

14.1

(22.0)

Mathematics

492

(490)

Public and private spending (% of GDP)

Science

501

(493)

Health care

8.9

(9.0)

Share of women in parliament (%)

34.8

(28.6)

Pensions (2013)

14.0

(9.1)

Net official development assistance (% of GNI)

0.16

(0.38)

Education (primary, secondary, post sec. non tertiary, 2013)

4.7

(3.7)

 

Better life index: www.oecdbetterlifeindex.org

* Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries.

Source: Calculations based on data extracted from the databases of the following organisations: OECD, International Energy Agency, World Bank, International Monetary Fund and Inter-Parliamentary Union.