Current Account in Portugal

Portugal Current Account | Economic News & Forecasts

Portugal - Current Account

Economic growth halved in the third quarter from the second quarter’s export-driven expansion, owing to a weaker showing from the external sector overriding stronger domestic demand. In particular, exports contracted, likely due to the Eurozone’s broad-based slowdown. Going into the fourth quarter, the picture remains downbeat as the number of tourists from overseas slipped towards the end of the January–October period, marking the first cumulative drop following years of record growth. This likely overrode gains made in private spending in October, boosted by lower inflationary and brighter consumer confidence. On 29 November, parliament passed the 2019 budget that aims to slash the deficit to a record-low of 0.2% of GDP. Moreover, Prime Minister Antonio Costa announced that the government’s fiscal consolidation drive will enable early repayment of the outstanding bailout funds lent by the IMF by year-end.

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 Yield1.65-1.90 %Jan 16
Exchange Rate1.140.65 %Jan 16
Stock Market4,999-0.02 %Jan 16

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