Current Account in Portugal

Portugal Current Account | Economic News & Forecasts

Portugal - Current Account

A preliminary GDP estimate showed that the economy sped up slightly in the second quarter, likely owing to a strong expansion in domestic demand. Looking at hard data from Q2, average annual growth in retail sales lost pace, however, which suggests private consumption weakened in the quarter. While export growth sped up, the trade balance sunk deeper into negative territory. On the positive side, the economy continued to attract a significant number of tourists, which translated into a double-digit rise in tourism revenues in H1. Going into the third quarter, prospects for private consumption appeared downbeat as consumer confidence entered pessimistic territory for the first time in 16 months. Business sentiment, on the other hand, rose slightly on improved output expectations in the manufacturing sector, reaching the highest level since May 2002. While public debt—thanks to the amortization of EUR 6.6 billion worth of government bonds—and non-financial private sector debt have steadily declined, both remain at elevated levels.

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 Yield1.88-1.90 %Sep 20
Exchange Rate1.180.65 %Sep 20
Stock Market5,359-0.02 %Sep 20

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