other EU member economies.
Economic growth had been above the EU average for much of the past
decade, but fell back in 2001-04. GDP per capita stands at
two-thirds that of the Big Four EU economies. A poor educational
system, in particular, has been an obstacle to greater productivity
and growth. Portugal has been increasingly overshadowed by
lower-cost producers in Central Europe and Asia as a target for
foreign direct investment. 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):
$188.7 billion (2004 est.)

GDP - real growth rate:
1.1% (2004 est.)

GDP - per capita:
purchasing power parity - $17,900 (2004 est.)

GDP - composition by sector:
agriculture: 5.9%
industry: 30.2%
services: 63.9% (2004 est.)

Labor force:
5.48 million (2004 est.)

Labor force - by occupation:
agriculture 10%, industry 30%, services 60% (1999 est.)

Unemployment rate:
6.5% (2004 est.)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: 3.1%
highest 10%: 28.4% (1995 est.)

Distribution of family income - Gini index:
35.6 (1994-95)

Inflation rate (consumer prices):
2.1% (2004 est.)

Investment (gross fixed):
22.3% of GDP (2004 est.)

Budget:
revenues: $74.38 billion
expenditures: $79.86 billion, including capital expenditures of NA
(2004 est.)

Public debt:
61.5% of GDP (2004 est.)

Agriculture - products:
grain, potatoes, olives, grapes; sheep, cattle, goats, poultry,
beef, dairy products

Industries:
textiles and footwear; wood pulp, paper, and cork; metals and
metalworking; oil refining; chemicals; fish canning; rubber and
plastic products; ceramics; electronics and communications
equipment; rail transportation equipment; aerospace equipment; ship
construction and refurbishment; wine; tourism

Industrial production growth rate:
1.1% (2004 est.)

Electricity - production:
43.28 billion kWh (2002)

Electricity - production by source:
fossil fuel: 64.5%
hydro: 31.3%
nuclear: 0%
other: 4.1% (2001)

Electricity - consumption:
42.15 billion kWh (2002)

Electricity - exports:
3.4 billion kWh (2002)

Electricity - imports:
5.3 billion kWh (2002)

Oil - production:
0 bbl/day (2001 est.)

Oil - consumption: