Portugal's GDP changed from approximately $32B 607M in 1980 to $298B 949M in 2024, showing an overall 816.8% sharply increased during the period.
The lowest GDP was recorded in 1984 at $25B 951M, and the highest in 2024 at $298B 949M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.2%.
For comparison, the average annual growth rate of Spain was 4.6%, and that of Italy was 3.7%.
Portugal GDP from 1980 to 2024
The total market value of goods and services produced annually in Portugal.
Overview of Portugal's GDP (1980–2024)
The Gross Domestic Product (GDP) of Portugal recorded a 816.8% sharply increased from 1980 to 2024.
The average GDP during this period was $154B 124M, and the median was $134B 699M.
GDP fluctuated within a range of $272B 998M, with a standard deviation of $84B 781M.
The average annual change was $6B 196M.
Highest and Lowest GDP Records
- Lowest GDP: 1984, $25B 951M
- Highest GDP: 2024, $298B 949M
- Most Recent GDP: 2024, $298B 949M
Notable Annual GDP Changes
- 2023: Significant increase in GDP
- 2015: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Portugal's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $240B 13M → $228B 849M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $240B 524M → $244B 402M
- Outcome: increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $118B 658M → $121B 605M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $117B 211M → $124B 124M
- Outcome: increased
Key Economic Indicators of Portugal (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | 6.725 % | $ 32B 607M | $ 59B 195M | $ 3,338.76 | $ 6,061.16 | 30.63 % | 9M 766K people | -3.263 % | 0 % |
1981 | 3.523 % | $ 32B 476M | $ 67B 78M | $ 3,296.65 | $ 6,809.02 | 20.98 % | 9M 851K people | -14.428 % | 0 % |
1982 | 2.163 % | $ 30B 678M | $ 72B 764M | $ 3,095.10 | $ 7,341.16 | 24.79 % | 9M 912K people | -10.621 % | 0 % |
1983 | 0.972 % | $ 28B 267M | $ 76B 348M | $ 2,838.66 | $ 7,667.11 | 24.33 % | 9M 958K people | -5.775 % | 0 % |
1984 | -1.042 % | $ 25B 951M | $ 78B 280M | $ 2,596.07 | $ 7,830.89 | 22.85 % | 9M 996K people | -2.401 % | 0 % |
1985 | 1.636 % | $ 27B 231M | $ 82B 76M | $ 2,716.64 | $ 8,188.29 | 25.44 % | 10M 24K people | 1.395 % | 0 % |
1986 | 3.32 % | $ 37B 869M | $ 86B 509M | $ 3,774.58 | $ 8,622.62 | 26.73 % | 10M 33K people | 3.078 % | 0.034 % |
1987 | 7.632 % | $ 47B 387M | $ 95B 419M | $ 4,724.45 | $ 9,513.26 | 28.75 % | 10M 30K people | 0.918 % | -0.122 % |
1988 | 5.34 % | $ 55B 435M | $ 104B 59M | $ 5,532.62 | $ 10,385.47 | 27.49 % | 10M 20K people | -1.923 % | 2.756 % |
1989 | 6.649 % | $ 59B 806M | $ 115B 329M | $ 5,977.58 | $ 11,527.10 | 27.93 % | 10M 5K people | 0.256 % | 2.924 % |
1990 | 7.859 % | $ 79B 439M | $ 129B 48M | $ 7,957.24 | $ 12,926.50 | 27.97 % | 9M 983K people | -0.228 % | 1.569 % |
1991 | 3.37 % | $ 89B 904M | $ 137B 909M | $ 9,026.30 | $ 13,845.94 | 24.39 % | 9M 960K people | -0.797 % | 0.793 % |
1992 | 3.13 % | $ 108B 119M | $ 145B 467M | $ 10,863.49 | $ 14,616.11 | 25.10 % | 9M 953K people | -0.17 % | 3.479 % |
1993 | -0.687 % | $ 95B 139M | $ 147B 891M | $ 9,547.64 | $ 14,841.52 | 22.46 % | 9M 965K people | 0.245 % | -0.709 % |
1994 | 1.489 % | $ 99B 692M | $ 153B 299M | $ 9,977.61 | $ 15,342.84 | 20.70 % | 9M 992K people | -2.203 % | -1.382 % |
1995 | 2.307 % | $ 118B 182M | $ 160B 124M | $ 11,787.32 | $ 15,970.53 | 20.27 % | 10M 26K people | -0.112 % | -0.581 % |
1996 | 3.504 % | $ 122B 655M | $ 168B 769M | $ 12,187.58 | $ 16,769.78 | 19.57 % | 10M 64K people | -4.49 % | -0.463 % |
1997 | 4.401 % | $ 117B 211M | $ 179B 235M | $ 11,594.75 | $ 17,730.23 | 19.86 % | 10M 109K people | -6.109 % | -0.305 % |
1998 | 4.808 % | $ 124B 124M | $ 189B 964M | $ 12,216.69 | $ 18,696.87 | 20.33 % | 10M 160K people | -7.548 % | -1.589 % |
1999 | 3.907 % | $ 127B 597M | $ 200B 178M | $ 12,487.71 | $ 19,591.12 | 20.26 % | 10M 218K people | -8.868 % | -0.411 % |