page_title: Economy of Portugal
section_title: Economy by sector
hierarchical_section_title: Economy of Portugal / Economy by sector
caption_attribution_description: English: Map showing natural resources of Spain. Names in blue are metals (Fe, Sn, W, U) with PY for pyrite (FeS2), in red are fossil fuels (C — coal, L — lignite). Based on map "Spain and Portugal. Moscow: GUGK SSSR, 1987" (Испания и Португалия. М.: ГУГК СССР, 1987).
context_page_description: The economy of Portugal is ranked 42nd in the World Economic Forum's Global Competitiveness Report for 2017–2018.
  The great majority of the international trade is done within the European Union, whose countries received 72.8% of the Portuguese exports and were the origin of 76.5% of the Portuguese imports in 2015. Other regional groups that are significant trade partners of Portugal are the NAFTA, the PALOP, the Maghreb and the Mercosul.
  The Portuguese currency is the euro and the country has been a part of the Eurozone since its inception. Portugal's central bank is the Banco de Portugal, which forms part of the European System of Central Banks, and the major stock exchange is the Euronext Lisbon, which belongs to the NYSE Euronext, the first global stock exchange.
  The Portuguese economy has been steady, expanding continuously since the third quarter of 2014, with a yearly GDP growth of 1.5% registered in the second quarter of 2015. The economy's growth has been accompanied by a continuous fall in the unemployment rate. The Government budget deficit has also been reduced from 11.2% of GDP in 2010 to 0.5% in 2018.
context_section_description: The tertiary sector is presently the most important component of the Portuguese economy, representing 75.8% of the gross value added (GVA) and employing 68.1% of the working population. It is followed by the industry sector, which represents 21.9% of the GVA, proving 24.5% of the jobs. Fisheries and agriculture – which represented 25% of the economy in 1960 – had a sharp decrease in its weight, now only representing 2.4% of the GVA, while employing 7.5% of the working population.
caption: Natural resources of Portugal. Fe – iron ore, PY – pyrite, Sn – tin, W – tungsten, U – uranium, C – coal, L – lignite.
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