Portugal. Main Economic Indicators

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1 Portugal Main Economic Indicators January, 2016

2 Contents 1 - Macroeconomic Indicators 2 - Macroeconomic Indicators - Forecasts 3 - Gross Value Added 4 - Employment 5 - Risk Indicators

3 1. Macroeconomic Indicators GDP GDP millions 179, , , , , ,035 rgr % ,018 16,686 16,015 16,282 16,676 n.a. GDP per Capita change % n.a. Output Gap relative to Potential GDP (% Potential GDP) EU 28 = n.a. Sources: Statistics Portugal; Eurostat; EC - European Commission Current Prices Note: (a) EC forecast (a) n.a. - not available; rgr - real growth rate; change % - percentage change on preceding year Components of GDP Private Consumption (a) % GDP (b) rgr % Government Consumption Saldo Gross Fixed Capital Formation Exports Imports % GDP (b) rgr % % GDP (b) rgr % % GDP (b) rgr % % GDP (b) rgr % Sources: Statistics Portugal (a) Private Consumption of Resident Households and Non-Profit Institutions Serving Households (b) measured at Current Prices rgr - real growth rate General Government (a) Tax Burden n.a. General Government Budget Balance General Government Gross Debt Sources: Statistics Portugal; EC - European Commission Unit: % of GDP, Current Prices Note: (a) EC forecast n.a. - not available; rgr - real growth rate; change % - percentage change on preceding year

4 Interest and Exchange Rates USA Libor - 3 months interbank deposit rates (%) Euro Area Euribor - 3 months (%) Exchange Rate (EUR/USD) Sources: Banco de Portugal, European Central Bank International Trade Current-Account Balance (% of GDP) Openness to Trade (b) (%) Coverage Rate (c) (%) (a) Sources: Eurostat, EC - European Commission International Trade in Goods and Services, Current Prices (a) EC forecast (b) (Exports + Imports) / GDP *100 (c) (Exports / Imports)*100 Others Gross National Saving (% of GDP) Inflation Rate (c) (%) (a) (b) Global Competitiveness Index (Rank / Total Number of Countries) Sources: Eurostat; EC - European Commission; World Economic Forum (a) EC forecast Inflation Rate (c) Euro Area (%) (b) November, (c) Measured by Harmonised Indices of Consumer Prices (HIPC) (b) 45 / / / / / / 140 aicep Portugal Global - Trade & Investment Agency Contact Center: ; aicep@portugalglobal.pt

5 2. Macroeconomic Indicators - Forecasts Portugal IMF EC OECD BdP MF out-15 (a) nov-15 (a) nov-15 (a) out-15 (a) abr-15 (a) GDP (rgr %) Private Consumption (rgr %) Government Consumption (rgr %) Gross Fixed Capital Formation (rgr %) Exports (b) (rgr %) Imports (b) (rgr %) Current-Account Balance (% of GDP) Government Gross Debt (% of GDP) n.a. n.a Inflation Rate (c) (%) Government Budget Balance (% of GDP) n.a. n.a Unemployment Rate (%) n.a. n.a Sources: IMF - International Monetary Fund, EC - European Comission, OECD - Organisation for Economic Cooperation and Development; BdP - Banco de Portugal: MF - Ministry of Finance (Stability Programme -2019) (a) Last Update (b) in Goods and Services (c) Measured by Harmonised Indices of Consumer Prices (HIPC) n.a. - not available; rgr - real growth rate International Framework IMF EC OECD BdP MF out-15 (a) nov-15 (a) nov-15 (a) out-15 (a) abr-15 (a) GDP Euro Area (rgr %) n.a GDP EU 28 (rgr %) n.a. n.a. n.a. n.a GDP USA (rgr %) n.a. n.a GDP World (rgr %) n.a. n.a Inflation Rate (b) Euro Area (%) n.a Oil Price - brent (USD/barrel) n.a Euribor - 3 months (%) n.a Exchange Rate (EUR/USD) n.a Sources: IMF - International Monetary Fund, EC - European Comission, OECD - Organisation for Economic Cooperation and Development; BdP - Banco de Portugal: MF - Ministry of Finance (Stability Programme -2019) (a) Last Update (b) Measured by Harmonised Indices of Consumer Prices (HIPC) n.a.- not available; rgr - real growth rate aicep Portugal Global - Trade & Investment Agency Contact Center: ; aicep@portugalglobal.pt

6 3. Gross Value Added Millions Euros Economic Activity Agriculture, Forestry and Fishing Industry, Construction, Energy and Water 3,463 3,209 3,212 3,542 3,528 2,725 35,820 34,052 32,163 32,151 32,688 25,470 Industry 21,536 20,609 19,802 20,249 20,699 16,121 Energy, water supply, sewerage 5,058 4,978 5,189 5,150 5,180 3,979 Construction 9,226 8,465 7,171 6,751 6,808 5,371 Services 119, , , , ,498 88,200 Wholesale/retail trade, vehicles, accommodation and food service Transportation and storage; information and communication Financial, insurance and real estate 28,658 29,080 29,071 29,492 30,026 23,350 13,176 12,888 12,361 12,438 12,635 9,528 27,220 27,404 26,692 26,828 27,302 20,899 Other services 49,988 47,609 43,863 45,317 45,535 34,423 Total GVA 158, , , , , ,395 Source: Statistics Portugal Unit: Millions euros Current Prices Percentage Change on Preceding Year Economic Activity Agriculture, Forestry and Fishing Industry, Construction, Energy and Water Industry Energy, water supply, sewerage Construction Services Wholesale/retail trade, vehicles, accommodation and food service Transportation and storage; information and communication Financial, insurance and real estate Other services Total GVA Source: Statistics Portugal Unit: % Current Prices

7 % of Total GVA Economic Activity Agriculture, Forestry and Fishing Industry, Construction, Energy and Water Industry Energy, water supply, sewerage Construction Services Wholesale/retail trade, vehicles, accommodation and food service Transportation and storage; information and communication Financial, insurance and real estate Other services Source: Statistics Portugal Unit: % of Total GVA Current Prices aicep Portugal Global - Trade & Investment Agency Contact Center: ; aicep@portugalglobal.pt

8 4. Employment Population and Employment (a) (b) Total Population Labour Force thousands 10,636 10,553 10,508 10,449 10,387 10,332 change % thousands 5,490 5,428 5,383 5,285 5,226 5,194 change % Labour Force Participation Rate (d) (%) Employment Rate (d) (%) Unemployment Rate (%) (c) Source: Statistics Portugal (a) Break in time series (b) 3rd Trimester (c) November (d) Population > 15 years old change % - percentage change on preceding year Labour Market Minimum Monthly Wage ( ) Real Unit Labour Cost (change %) (a) Labour Productivity per Person Employed (EU 28 =100) n.a. Sources: DGERT - Direção Geral do Emprego e Relações de Trabalho; EC - European Comission, Eurostat Note: (a) EC forecast n.a. - not available; change % - percentage change on preceding year Employment by Main Economic Activity Economic Activity Agriculture, Animal Production, Forestry and Fishing Industry, Construction, Energy and Water Manufacturing Construction Services Wholesale/retail trade, vehicles, accommodation and food service Transportation and storage; information and communication Financial, insurance and real estate Public administration and defense; social security; education; health and social support Other services Source: Statistics Portugal Unit: % of Total Employment aicep Portugal Global - Trade & Investment Agency Contact Center: ; aicep@portugalglobal.pt

9 5. Risk Indicators Portugal Credit Rating Agencies S&P - Standard & Poor's Moody's Fitch DBRS - Dominion Bond Rating Service Credit Rating BB+ Ba1 BB+ BBB(low) Source: TradingEconomics Rating Agency Credit Scale Rating Description S&P Moody's Fitch DBRS (a) Prime AAA Aaa AAA AAA High grade Upper medium grade Lower medium grade Non-investment grade speculative Highly speculative AA+ Aa1 AA+ AA(high) AA Aa2 AA AA AA- Aa3 AA- AA(low) A+ A1 A+ A(high) A A2 A A A- A3 A- A(low) BBB+ Baa1 BBB+ BBB(high) BBB Baa2 BBB BBB BBB- Baa3 BBB- BBB(low) BB+ Ba1 BB+ BB(high) BB Ba2 BB BB BB- Ba3 BB- BB(low) B+ B1 B+ B(high) B B2 B B B- B3 B- B(low) Substantial risks CCC+ Caa1 CCC CCC(high) Extremely speculative CCC Caa2 CCC In default with little prospect for recovery In default Source: TradingEconomics CCC- Caa3 CCC(low) CC Ca CC C C C D / DDD D / DD Note: (a) DBRS s scale is similar to the ones used by Standard & Poor s and Fitch Ratings, though it uses (high) and (low) instead of + and symbols like S&P and Fitch use. D aicep Portugal Global - Trade & Investment Agency Contact Center: aicep@portugalglobal.pt

Portugal. Main Economic Indicators

Portugal. Main Economic Indicators Portugal Main Economic Indicators September, 2018 Contents 1 - Macroeconomic Indicators 2 - Macroeconomic Indicators - Forecasts 3 - Gross Value Added 4 - Employment 5 - Risk Indicators 1. Macroeconomic