Portugal banking
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Information
Portugal ranks as one of the most developed nations in the world (26th rank IDC) with an open global economy. Its specific advantages include its geographical position, natural andowment and the economic and social environement.
Solid economic, political and social stability during last decades continues to make Portugal attractive for foreign investment. It has a well trained, produtive and highly skilled labour force enhanced by solid private/public sector relationships.
Portuguese economy grew by 5.3 percent annually from 1965 to 1980, the economic growth rate slowed to less than 1 percent during the 1980s; in the period 1990-1998 the gross domestic product (GDP) grew at an annual average of 2.3 percent. The GDP in 1998 was $107 billion.
Portuguese is now the third more spoken European language worldwide (after English and Spanish) ranking sixth among the world's languages in number of native speakers (over 200 million) and first in South America (186 milion, over 51% of the population).
Portugal has one of the highest penetration of mobile phones in the world and one of the highest penetration of broadband of Europe.
GDP: purchasing power parity—$149.5 billion (1997 est.)
GDP—real growth rate: 3.3% (1997 est.)
GDP—per capita: purchasing power parity—$15 200 (1997 est.)
GDP—composition by sector:
agriculture: 6%
industry: 36%
services: 58% (1995 est.)
Inflation rate—consumer price index: 2.3% (1997 est.)
Labor force:
total: 4.53 million (1996 est.)
by occupation: services 56% manufacturing 23% agriculture forestry fisheries 11% construction 8% utilities 1% mining 1% (1995)
Unemployment rate: 7% (January 1998)
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; oil refining; chemicals; fish canning; wine; tourism
Industrial production growth rate: 2.2% (1996 est.)
Electricity—capacity: 8.831 million kW (1995)
Electricity—production: 31.446 billion kWh (1995)
Electricity—consumption per capita: 3 072 kWh (1995)
Agriculture—products: grain potatoes olives grapes; sheep cattle goats poultry meat dairy products
Exports:
total value: $23.8 billion (f.o.b. 1996)
commodities: clothing and footwear machinery cork and paper products hides
partners: EU 76% other developed countries 9% (US 5%)
Imports:
total value: $33.9 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 countries 17% (1995)
Debt—external: $13.1 billion (1997 est.)
Economic aid:
donor: ODA $220 million (1996)
recipient: ODA $70 million (1993)
Currency: 1 Euro = 100 cents
Fiscal year: calendar year
Source - world66.com
*If you have assets worth $300,000 USD or more and would like it safeguarded in an Portugal Bank Account, click here for a consultation request..