Current Account in Portugal

Portugal Current Account (EUR bn) | Economic News & Forecasts

Portugal - Current Account (billions of Euros)

A preliminary release showed that GDP rebounded in the second quarter, benefiting from lighter restrictions, after the lockdown-induced contraction registered in Q1. The available breakdown suggests domestic activity led the improvement, while the external sector still contributed negatively to the reading, albeit to a lesser extent than in Q1. Notably, wages grew in annual terms in the quarter, as employees who were no longer covered by the layoff scheme returned to full earnings. Turning to Q3, the economy faces headwinds: A resurgence in Covid-19 cases led to the tightening of some restrictions in July, which appears to have weighed on activity somewhat. That said, a pickup in the Bank of Portugal’s economic activity indicator for August suggests output gained momentum relative to July, while Q2 wage data bodes well for private spending in Q3 overall.

Portugal - Current Account (EUR bn) Data

2015   2016   2017   2018   2019  
Current Account Balance (EUR bn)0.4  2.2  2.6  0.8  -0.2  

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Portugal Current Account (EUR bn) Chart


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

Portugal Facts

Value Change Date
Bond Yield0.45-1.90 %Jan 01
Exchange Rate1.120.65 %Dec 31

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