Portugal
National Flag | |
Map |
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Basic Information |
Portugal is located in southwestern Europe. The country has an area of about 90,000 square kilometres, a coastline of more than 800 kilometres with multiple seaports. By the end of 2018, the population was about 10.3 million. As of the end of 2017, Chinese immigrants accounted for about 5.4% of Portuguese immigrants. The capital is Lisbon. It is the national political, economic, financial, cultural and technological centre. |
Investment Environment |
Portugal is a member state of the European Union (EU). Its infrastructure is complete. It has also good social security and high degree of marketisation, as well as geographical advantages. It connects to the markets of European and Portuguese-speaking countries. The wage costs are at a low level among EU member states. According to , the World Bank’s report on business environment, Portugal’s business environment in 2017/18 was ranked 39th among 190 economies. It also achieved the first place in the ranking of cross-border trade. Its procedure for import and export takes only 1 hour with zero cost, enabling unimpeded flow of commodities. The service industry dominates the Portuguese economy. In particular, tourism is developing quite well. In addition, cork processing is one of Portugal’s traditions and a pillar industry of the national economy. Other characteristic industries include wine, olive oil, shoemaking, pharmaceuticals, moulds, and renewable energy industries. |
Trade Overview |
Portugal’s main export destinations are Spain, France, Germany, and the United Kingdom. The main exports include machinery and transportation equipment, food, beverages, and tobacco. The main origins for import include Spain, Germany, France, Italy, and the main imported goods include machinery and transportation equipment, chemicals and related products that are not specified, as well as food, beverages and tobacco. China’s exports to Portugal include electrical machinery, electrical appliances, audio-visual equipment and the accessories thereof, boilers, mechanical appliances and parts. Goods imported from Portugal mainly are electrical machinery, electrical appliances, audio-visual equipment and the accessories thereof, vehicles and their accessories (except railway vehicles) . |
Economic Indicators
2017(a) |
2018(a) |
2019(a) |
2020(b) |
|
Surface area (sq. km) |
91,906 |
91,906 |
91,906 |
91,906 |
Population (million) |
10.3 |
10.3 |
10.3 |
10.2 |
GDP (US$ billion) |
221.3 |
240.9 |
237.7 |
214.8 |
Real GDP growth rate (%) |
3.5 |
2.4 |
2.2 |
-8.0 |
Total exports (US$ billion) |
60.2 |
67.3 |
65.2 |
56.4 |
Total imports (US$ billion) |
-75.3 |
-85.3 |
-83.8 |
-72.8 |
EU Unified Consumer Price Index (%) |
1.6 |
1.2 |
0.3 |
-0.2 |
Current account balance (US$ billion) |
2.9 |
1.0 |
-0.2 |
-4.4 |
Exchange rate (Euro EUR : USD) |
0.89 |
0.85 |
0.89 |
0.91 |
Remarks: (a) actual value; (b) estimated value of Economist Intelligence Unit (EIU); (c) estimates of Economist Intelligence Unit (EIU).
Source: Country Report May 2020 (Portugal) by the British Economist Intelligence Unit
Main export and import destinations
Main export destinations (2018) |
Proportion in total exports (%) |
Spain |
24.9 |
France |
13.0 |
Germany |
12.0 |
Britain |
6.1 |
Others |
44.0 |
Main origins for import (2018) |
Proportion in total imports (%) |
Spain |
30.4 |
Germany |
13.3 |
France |
9.8 |
Italy |
5.1 |
Others |
41.4 |
Source: International Trade Center (ITC)
Main export and import goods
Major export goods (2018) |
Proportion in total exports (%) |
Vehicles other than railway or tramway vehicles and their parts and accessories |
12.3 |
Fossil fuels, mineral oil and its distilled products; bituminous substances; mineral wax |
11.3 |
Nuclear reactors, boilers, machinery and mechanical appliances and relevant spare parts |
9.2 |
Electrical machinery and equipment and their parts; recorders and speakers, television image and sound recorders and replayers, and parts and accessories |
8.7 |
Others |
58.5 |
Major import goods (2018) |
Proportion in total imports (%) |
Vehicles other than railway or tramway vehicles and their parts and accessories |
15.0 |
Electrical machinery and equipment and their parts; recorders and sound speakers, television image and sound recorders and replayers, and parts and accessories |
7.9 |
Fossil fuels, mineral oil and its distilled products; bituminous substances; mineral wax |
6.2 |
Nuclear reactors, boilers, machinery and mechanical appliances and relevant spare parts |
6.0 |
Others |
64.9 |
Source: International Trade Center (ITC)
Statistics on the trade between Mainland China and Portugal (US$ 10,000)
Year |
Total trade |
Total exports* |
Total imports** |
2019 |
668,981.1 |
436,751.1 |
232,230.0 |
2018 |
600,012.8 |
375,127.0 |
224,885.8 |
2017 |
557,943.9 |
344,525.5 |
213,418.5 |
2016 |
558,419.8 |
400,269.1 |
158,150.7 |
2015 |
436,283.3 |
289,738.2 |
146,545.0 |
Remarks: * Value of goods exported to Portugal from Mainland China; **Value of goods imported from Portugal to Mainland China
Source of Data: General Administration of Customs of the People’s Republic of China
Statistics on the trade between Macao and Portugal (US$) (1 USD»8 MOP)
Year |
Total trade |
Total exports* |
Total imports** |
2019 |
40,764,237.3 |
44,098.9 |
40,720,138.4 |
2018 |
44,172,104.4 |
3,030,674.4 |
41,141,430.0 |
2017 |
33,442,893.1 |
51,666.1 |
33,391,227.0 |
2016 |
35,220,276.5 |
701,929.9 |
34,518,346.6 |
2015 |
34,884,892.5 |
102,227.4 |
34,782,665.1 |
Remarks: * Value of goods exported to Portugal from Macao; **Value of goods imported from Portugal to Macao.
Source of Data: Statistics and Census Service (DSEC), Macao SAR Government
Source of Data:
- Country (region) guide for foreign investment co-operation (Portugal) by the Ministry of Commerce of the People’s Republic of China
- General Administration of Customs of the People’s Republic of China
- SinoMaps Press
- Statistics and Census Service (DSEC), Macao SAR Government
- International Trade Center (ITC)
- Country Report May 2020 (Portugal) by the British Economist Intelligence Unit “
- Doing Business 2020 by the World Bank
Updated in May 2020.