st
producers in Central Europe and Asia as a target for foreign direct
investment. The budget deficit surged to an all-time high of 6% of
GDP in 2005, but the government reduced the deficit to 2.6% in 2007
- a year ahead of Portugal's targeted schedule. Nonetheless, the
government faces tough choices in its attempts to boost Portugal's
economic competitiveness while keeping the budget deficit within the
eurozone's 3%-of-GDP ceiling.

GDP (purchasing power parity):

$232.3 billion (2007 est.)

GDP (official exchange rate):

$223.3 billion (2007 est.)

GDP - real growth rate:

1.8% (2007 est.)

GDP - per capita (PPP):

$21,800 (2007 est.)

GDP - composition by sector:

agriculture: 8.2%
industry: 25.4%
services: 66.4% (2007 est.)

Labor force:

5.618 million (2007 est.)

Labor force - by occupation:

agriculture: 10%
industry: 30%
services: 60% (2007 est.)

Unemployment rate:

8% (2007 est.)

Population below poverty line:

18% (2006)

Household income or consumption by percentage share:

lowest 10%: 3.1%
highest 10%: 28.4% (1995 est.)

Distribution of family income - Gini index:

38.5 (2007)

Investment (gross fixed):

21.7% of GDP (2007 est.)

Budget:

revenues: $96.01 billion
expenditures: $101.9 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

63.6% of GDP (2007 est.)

Inflation rate (consumer prices):

2.4% (2007 est.)

Commercial bank prime lending rate:

7.92% (31 December 2007)

Stock of money:

NA
note: see entry for the European Union for money supply in the Euro
Area; the European Central Bank (ECB) controls monetary policy for
the 15 members of the Economic and Monetary Union (EMU); individual
members of the EMU do not control the quantity of money and quasi
money circulating within their own borders

Stock of quasi money:

NA (31 December 2007)

Stock of domestic credit:

$451.9 billion (31 December 2007)

Agriculture - products:

grain, potatoes, tomatoes, olives, grapes; sheep, cattle, goats,
swine, poultry, dairy products; fish

Industries:

textiles, clothing, footwear, wood and cork, paper, chemicals,
auto-parts manufacturing, base metals, diary products, wine and
other foods, porcelain and ceramics, glassware, technology,
telecommunications; ship construction and refurbishment; tourism

Industrial production growth rate:

2.3% (2007 est.)

Electricity - production