Portugal Current Account to GDP

Portugal recorded a Current Account deficit of 3 percent of the countrys Gross Domestic Product in 2012. Current Account to GDP in Portugal is reported by the Eurostat. From 1980 until 2012, Portugal Current Account to GDP averaged -5.5 Percent reaching an all time high of 3.1 Percent in December of 1986 and a record low of -14.7 Percent in December of 1981. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Portugal Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-3.00 -7.20 3.10 -14.70 -1.32 | 2013/12 1980 - 2012 Percent Yearly

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Portugal Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
External Debt 369637.00 2013-12-31 370050.00 405641.00 212478.00 372778.88 2014-03-31 EUR Million [+]
Foreign Direct Investment -47.24 2014-01-15 308.39 6254.66 -3455.59 432.38 2014-02-28 EUR Million [+]
Remittances 219.44 2014-01-15 350.63 515.40 153.66 216.10 2014-02-28 EUR Million [+]
Current Account to GDP -3.00 2012-12-31 -7.20 3.10 -14.70 -1.32 2013-12-31 Percent [+]
Current Account -279.25 2014-02-15 -185.27 782.88 -2617.36 -122.61 2014-03-31 EUR Million [+]
Balance of Trade -794.18 2014-02-15 -956.30 3.55 -2348.24 -909.87 2014-03-31 EUR Million [+]
Exports 3850.41 2014-02-15 3955.15 4372.62 1.69 4110.40 2014-03-31 EUR Million [+]
Imports 4644.59 2014-02-15 4911.45 5744.00 0.00 4910.24 2014-03-31 EUR Million [+]
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Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


RELATED NEWS

Portugal Inflation Rate Down to 4-1/2-Year Low  
Portugal’ annual inflation rate dropped to -0.37 percent in March of 2014, down from -0.08 percent in the previous month and 0.45 percent a year earlier. It is the lowest level since November of 2009.
Portuguese Trade Deficit Widens in February Over a Year Earlier  
The trade deficit increased to EUR 795.0 million in February of 2014, from EUR 744.4 million a year earlier, as exports increased by 4.7 percent and imports rose by 5.0 percent. Compared with January of 2014, the gap decreased from a revised EUR 956.0 million.
Portugal Inflation Rate in Negative Territory  
Portuguese annual inflation rate declined 0.1 percent in February of 2014, down from 0.1 percent in the previous month. Monthly inflation was recorded at -0.3 percent changing from -1.4 percent in January and -0.1 in February of 2013.
Portugal Trade Deficit Widens in January on Rising Imports  
Portuguese trade deficit widened to € 925 million in January of 2014, from a revised € 888 million deficit in December and a € 599 million gap a year earlier. Imports from countries outside the EU surged as bad weather conditions in December affected the normal working schedule of the port terminals.
Portuguese GDP Advanced More than Expected in Q4  
The Portuguese economy expanded a revised 0.6 percent in the last quarter of 2013, up from the previous quarter's 0.3 percent growth. The final figure comes better than a 0.5 percent expansion previously reported, boosted by investment and exports.
Portuguese Economy Rebounds in Q4 2013  
In the last quarter of 2013, Portugal’s GDP advanced 0.5 percent over the previous quarter, accelerating from a 0.3 percent expansion in the previous three-month period, flash estimates showed.
Portuguese Inflation Rate Slows in January  
In January of 2014, Portuguese annual inflation rate slowed to 0.1 percent from 0.2 percent in the last month of 2013. On a monthly basis, prices fell sharply by 1.4 percent, the lowest rate in almost 38 years, due to lower cost of clothing and flights.
Portugal Posts the Lowest Trade Deficit in 17 Years  
In 2013, Portugal’s trade deficit shrank 15 percent over the previous year to € 9.28 billion, the lowest deficit since 1996. The coverage rate reached 83.6 percent, corresponding to a 3.0 p.p. increase over a year earlier.
Portuguese Unemployment Falls for 3rd Straight Quarter  
In the fourth quarter of 2013, Portugal’s jobless rate decreased for the third straight quarter to 15.3, from 15.6 percent in the previous three-month period. A year earlier, unemployment reached 16.9 percent.
Portuguese Inflation Rate Rises 0.2% in December  
In December of 2013, Portuguese annual inflation rate turned positive and rose 0.2 percent, after falling 0.2 percent in the previous two months, due to higher prices of health, food and alcoholic beverages.
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