Current Account in Portugal

Portugal Current Account | Economic News & Forecasts

Portugal - Current Account

Available data for the third quarter suggests that growth moderated from the previous quarter. Retail sales decelerated, on average, in the first two months of Q3, and the industrial sector contracted over the same period. Moreover, consumer confidence lingered in negative territory in September, signaling downbeat private consumption at the end of the period. On 16 October, the government unveiled its 2019 election-year budget, which promises higher public sector wages and subsidized transport costs, while further alleviating the fiscal burden. The budget will target a deficit of 0.2% of GDP, the smallest in the country’s democratic history. A reduction in the elevated government debt burden combined with a sustained healthy pace of growth led Moody’s to upgrade the country’s credit rating from Ba1 to Baa3. Moody’s was the last of the three major credit agencies to lift the rating from junk territory to investment grade, fueling a rally in the country’s sovereign bonds.

Portugal - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)1.6  0.1  0.1  0.6  0.5  

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Portugal Current Account Chart

Portugal Current Account
Note: Current account balance as % of GDP.
Source: Bank of Portugal (BP).

Portugal Facts

Bond Yield1.95-1.90 %Nov 13
Exchange Rate1.130.65 %Nov 13
Stock Market4,956-0.02 %Nov 13

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