on reducing inflationary pressures by lowering the fiscal deficit,
maintaining a stable escudo, moderating wage increases, and
encouraging increased competition. Resumption of growth in the short
run depends on the revival of growth in Europe as a whole, not a
likely prospect in the immediate future.
National product:
GDP - purchasing power equivalent - $91.5 billion (1993)
National product real growth rate:
-0.4% (1993)
National product per capita:
$8,700 (1993)
Inflation rate (consumer prices):
7% (1993 est.)
Unemployment rate:
7% (1993 est.)
Budget:
revenues:
$27.3 billion
expenditures:
$33.2 billion, including capital expenditures of $4.5 billion (1991
est.)
Exports:
$17.5 billion (f.o.b., 1993 est.)
commodities:
cotton textiles, cork and paper products, canned fish, wine, timber
and timber products, resin, machinery, appliances
partners:
EC 75.4%, other developed countries 12.4%, US 3.8% (1992)
Imports:
$28 billion (c.i.f., 1993 est.)
commodities:
machinery and transport equipment, agricultural products, chemicals,
petroleum, textiles
partners:
EC 72%, other developed countries 10.9% less developed countries
12.9%, US 3.4%
External debt:
$20 billion (1993 est.)
Industrial production:
growth rate 9.1% (1990); accounts for 40% of GDP
Electricity:
capacity:
6,624,000 kW
production:
26.4 billion kWh
consumption per capita:
2,520 kWh (1992)
Industries:
textiles and footwear; wood pulp, paper, and cork; metalworking; oil
refining; chemicals; fish canning; wine; tourism
Agriculture:
accounts for 6.1% of GDP and 20% of labor force; small, inefficient
farms; imports more than half of food needs; major crops - grain,
potatoes, olives, grapes; livestock sector - sheep, cattle, goats,
poultry, meat, dairy products
Illicit drugs:
increasingly important gateway country for Latin American cocaine
entering the European market; transshipment point for hashish from
North Africa to Europe
Economic aid:
recipient:
US commitments, including Ex-Im (FY70-89), $1.8 billion
Western (non-US) countries, ODA and OOF bilateral commitments
(1970-89), $1.2 billion
Currency:
1 Portuguese escudo (Esc) = 100 centavos
Exchange rates:
Portuguese escudos (Esc) per US$1 - 176.16 (January 1994), 160.80
(1993), 135.00 (1992), 144.48 (1991), 142.55 (1990), 157.46 (1989)
Fiscal year:
calendar year

@Portugal, Communications

Railroads: