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    Portugal Economy 1997
    https://photius.com/wfb1997/portugal/portugal_economy.html
    SOURCE: 1997 CIA WORLD FACTBOOK

      Economy - overview Portugal's short-term economic fundamentals remain strong: the economyhas grown by more than 2% during the past two years, with similar growth expectedin 1997. The Socialist government's primary economic goal is to place Portugalin the first group of countries adopting the single European currency, andit has instituted a disciplined 1997 budget to bolster Lisbon's chances. Portuguesegovernment forecasts suggest that it is likely to meet partially the Maastrichtmonetary convergence criteria by lowering its budget deficit from 4% of GDPin 1996 to 2.9% in 1997, although the government predicts that governmentdebt will be cut only to 68% of GDP, overshooting Maastricht's 60% target.Social programs - a priority for the Socialists - will still grow slightlyfaster than GDP in 1997, mandating strict budget discipline in other areas.As for the long run, Portugal is increasing its infrastructure spending -much of it in anticipation of hosting the world's International Expositionin 1998 - while working to modernize its capital plant and increase competitivenessin hopes of increasing Portugal's GDP, which remains below 65% of the EU'saverage GDP per capita.

      GDP purchasing power parity - $122.1 billion (1996 est.)

      GDP - real growth rate 2.5% (1996 est.)

      GDP - per capita purchasing power parity - $12,400 (1996 est.)

      GDP - composition by sector
      agriculture : 6%
      industry: 36%
      services: 58% (1995 est.)

      Inflation rate - consumer price index 3.4% (1996 est.)

      Labor force
      total: 4.53 million (1996 est.)
      by occupation : services 54.5%, manufacturing 24.4%, agriculture, forestry, fisheries11.2%, construction 8.3%, utilities 1.0%, mining 0.5% (1992)

      Unemployment rate 7% (1996 est.)

      Budget
      revenues: $48 billion
      expenditures: $52 billion, including capital expenditures of $7.4 billion (1996 est.)

      Industries textiles and footwear; wood pulp, paper, and cork; metalworking; oilrefining; chemicals; fish canning; wine; tourism

      Industrial production growth rate 2.2% (1996 est.)

      Electricity - capacity 8.83 million kW (1994)

      Electricity - production 33.1 billion kWh (1995)

      Electricity - consumption per capita 2,863 kWh (1995 est.)

      Agriculture - products grain, potatoes, olives, grapes; sheep, cattle, goats, poultry, meat,dairy products

      Exports
      total value: $25.8 billion (f.o.b., 1996)
      commodities: clothing and footwear, machinery, cork and paper products, hides
      partners : EU 80%, other developed countries 9% (US 4.5%)

      Imports
      total value: $34.2 billion (c.i.f., 1996)
      commodities: machinery and transport equipment, agricultural products, chemicals,petroleum, textiles
      partners: EU 72%, other developed countries 8% (US 3%), less developed countries17%

      Debt - external $13.6 billion (1996 est.)

      Economic aid
      donor: ODA, $248 million (1993)
      recipient : ODA, $70 million (1993)

      Currency 1 Portuguese escudo (Esc) = 100 centavos

      Exchange rates Portuguese escudos (Esc) per US$1 - 160.35 (January 1997), 154.24 (1996),151.11 (1995), 165.99 (1994), 160.80 (1993), 135.00 (1992)

      Fiscal year calendar year

      NOTE: The information regarding Portugal on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Portugal Economy 1997 information contained here. All suggestions for corrections of any errors about Portugal Economy 1997 should be addressed to the CIA.

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    https://photius.com/wfb1997/portugal/portugal_economy.html

    Revised 06-Mar-02
    Copyright © 2002 Photius Coutsoukis (all rights reserved)


    ctr03/06/02