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%.
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.
Portugal GDP from 1980 to 2024
The total market value of goods and services produced annually in Portugal.
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 32B 607M | $ 3,338.76 | $ 6,061.16 | $ 59B 195M | 6.725 % | -3.263 % | 30.63 % | 0 % | 9M 766K people |
1981 | $ 32B 476M | $ 3,296.65 | $ 6,809.02 | $ 67B 78M | 3.523 % | -14.428 % | 20.98 % | 0 % | 9M 851K people |
1982 | $ 30B 678M | $ 3,095.10 | $ 7,341.16 | $ 72B 764M | 2.163 % | -10.621 % | 24.79 % | 0 % | 9M 912K people |
1983 | $ 28B 267M | $ 2,838.66 | $ 7,667.11 | $ 76B 348M | 0.972 % | -5.775 % | 24.33 % | 0 % | 9M 958K people |
1984 | $ 25B 951M | $ 2,596.07 | $ 7,830.89 | $ 78B 280M | -1.042 % | -2.401 % | 22.85 % | 0 % | 9M 996K people |
1985 | $ 27B 231M | $ 2,716.64 | $ 8,188.29 | $ 82B 76M | 1.636 % | 1.395 % | 25.44 % | 0 % | 10M 24K people |
1986 | $ 37B 869M | $ 3,774.58 | $ 8,622.62 | $ 86B 509M | 3.32 % | 3.078 % | 26.73 % | 0.034 % | 10M 33K people |
1987 | $ 47B 387M | $ 4,724.45 | $ 9,513.26 | $ 95B 419M | 7.632 % | 0.918 % | 28.75 % | -0.122 % | 10M 30K people |
1988 | $ 55B 435M | $ 5,532.62 | $ 10,385.47 | $ 104B 59M | 5.34 % | -1.923 % | 27.49 % | 2.756 % | 10M 20K people |
1989 | $ 59B 806M | $ 5,977.58 | $ 11,527.10 | $ 115B 329M | 6.649 % | 0.256 % | 27.93 % | 2.924 % | 10M 5K people |
1990 | $ 79B 439M | $ 7,957.24 | $ 12,926.50 | $ 129B 48M | 7.859 % | -0.228 % | 27.97 % | 1.569 % | 9M 983K people |
1991 | $ 89B 904M | $ 9,026.30 | $ 13,845.94 | $ 137B 909M | 3.37 % | -0.797 % | 24.39 % | 0.793 % | 9M 960K people |
1992 | $ 108B 119M | $ 10,863.49 | $ 14,616.11 | $ 145B 467M | 3.13 % | -0.17 % | 25.10 % | 3.479 % | 9M 953K people |
1993 | $ 95B 139M | $ 9,547.64 | $ 14,841.52 | $ 147B 891M | -0.687 % | 0.245 % | 22.46 % | -0.709 % | 9M 965K people |
1994 | $ 99B 692M | $ 9,977.61 | $ 15,342.84 | $ 153B 299M | 1.489 % | -2.203 % | 20.70 % | -1.382 % | 9M 992K people |
1995 | $ 118B 182M | $ 11,787.32 | $ 15,970.53 | $ 160B 124M | 2.307 % | -0.112 % | 20.27 % | -0.581 % | 10M 26K people |
1996 | $ 122B 655M | $ 12,187.58 | $ 16,769.78 | $ 168B 769M | 3.504 % | -4.49 % | 19.57 % | -0.463 % | 10M 64K people |
1997 | $ 117B 211M | $ 11,594.75 | $ 17,730.23 | $ 179B 235M | 4.401 % | -6.109 % | 19.86 % | -0.305 % | 10M 109K people |
1998 | $ 124B 124M | $ 12,216.69 | $ 18,696.87 | $ 189B 964M | 4.808 % | -7.548 % | 20.33 % | -1.589 % | 10M 160K people |
1999 | $ 127B 597M | $ 12,487.71 | $ 19,591.12 | $ 200B 178M | 3.907 % | -8.868 % | 20.26 % | -0.411 % | 10M 218K people |