page_title: Economy of Portugal
section_title: Competitiveness
hierarchical_section_title: Economy of Portugal / Competitiveness
caption_attribution_description: English: A proportional representation of Portugal's exports.
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.
caption: A graphic presentation of Portugal's exports.
exif: {}