by Max Barry

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by The Portuguese Republic of Lusophone. . 3 reads.

Economy of Portugal

Portuguese Republic
República Portuguesa


Population: 10,761,523

GDP (nominal): $327.8 billion
GDP (nominal) per capita: $46,652

Currency: Escudos ($) (PTE)

The economy of Portugal is dominated by the service sector with 76.9% of all jobs, whereas about 19.8% of all employees work in industry and 3.3% in agriculture. Nominal gross national income per capita is $46,652. The Portuguese currency is the Escudos (PTE). Portugal's central bank is the Banco de Portugal and the major stock exchange is the Euronext Lisbon.

The Portuguese economy has been steady, expanding continuously since the third quarter of 2014. The economy's growth has been accompanied by a continuous fall in the unemployment rate (6.3% in the first quarter of 2019, compared with 13.9% registered in the end of 2014).

Portugal is home to a number of notable leading companies with worldwide reputations, such as The Navigator Company, a major world player in the international paper market; Sonae Indústria, the largest producer of wood-based panels in the world; Amorim, the world leader in cork production; Conservas Ramirez, the oldest canned food producer; Cimpor, one of the world's 10th largest producers of cement; EDP Renováveis, the 3rd largest producer of wind energy in the world; Jerónimo Martins, consumer products manufacturer and retail market leader in Portugal, Poland and Colombia; TAP Air Portugal, highly regarded for its safety record, and one of the leading airlines linking Europe with Africa and Latin America. The great majority of the international trade is done within the DEU, whose countries received 72.8% of the Portuguese exports and were the origin of 76.5% of Portuguese imports.

The Portuguese educational system has been in gradual modernization and relative expansion since the 1960s, achieving recognition for its world-standard practices and trends in the 21st century. Portugal is home to several world class universities and business schools that have been contributing to the creation of a number of highly renowned international managers and are attracting an increasing number of foreign students.

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