PORTUGAL

Portugal , officially the Portuguese Republic, is a country located in southwestern Europe on the Iberian Peninsula.

Location

In 1986, Portugal joined the European Economic Community (EEC) that later became the European Union (EU). In the following years Portugal's economy progressed considerably as a result of EEC/EU structural and cohesion funds and Portuguese companies easier access to foreign markets.

On 26 March 1995, Portugal started to implement Schengen Area rules, eliminating border controls with other Schengen members while simultaneously strengthening border controls with non-member states.

In 1996 the country was a co-founder of the Community of Portuguese Language Countries (CPLP) headquartered in Lisbon. Expo '98 took place in Portugal and in 1999 it was one of the founding countries of the euro and the eurozone.

Portugal European integration

On 5 July 2004, José Manuel Barroso, then Prime Minister of Portugal, was nominated President of the European Commission, the most powerful office in the European Union. On 1 December 2009, the Treaty of Lisbon entered into force, after had been signed by the European Union member states on 13 December 2007 in the Jerónimos Monastery, in Lisbon, enhancing the efficiency and democratic legitimacy of the Union and improving the coherence of its action.

Economic disruption and an unsustainable government debt in the wake of the late-2000 financial crisis led the country to negotiate in 2011 with the IMF and the European Union, through the European Financial Stability Mechanism (EFSM) and the European Financial Stability Facility (EFSF), a loan to help the country stabilise its finances.

PORTUGAL POPULATION

The total population in Portugal was last recorded at 10.6 million people in 2011 from 8.9 million in 1960, changing 19 percent during the last 50 years. Population in Portugal is reported by the World Bank. Historically, from 1960 until 2011, Portugal Population averaged 9.8 Million reaching an all time high of 10.6 Million in December of 2010 and a record low of 8.6 Million in December of 1972.

Portugal has adopted the euro. The EURUSD spot exchange rate depreciated 0.0258 or 1.97 percent during the last 30 days. Historically, from 1957 until 2013, the EURUSD averaged 1.3600 reaching an all time high of 1.8700 in July of 1973 and a record low of 0.7000 in February of 1985. The euro is the official currency of Portugal, which is a member of the European Union. The Euro Area refers to a currency union among the European Union member states that have adopted the euro as their sole official currency. In Portugal, interest rate decisions are taken by the Governing Council of the European Central Bank

EURO EXCHANGE RATE | EUR/USD | PORTUGAL

The Gross Domestic Product per capita in Portugal was last recorded at 11558.94 US dollars in 2011. The GDP per Capita in Portugal is equivalent to 93 percent of the world's average. GDP per capita in Portugal is reported by the World Bank. Historically, from 1960 until 2011, Portugal GDP per capita averaged 7419.3 USD reaching an all time high of 11926.1 USD in December of 2007 and a record low of 2343.2 USD in December of 1960.

PORTUGAL GDP PER CAPITA

The Gross Domestic Product (GDP) in Portugal was worth 237.52 billion US dollars in 2011. The GDP value of Portugal represents 0.38 percent of the world economy. GDP in Portugal is reported by the The World Bank Group. Historically, from 1960 until 2011, Portugal GDP averaged 74.4 USD Billion reaching an all time high of 251.9 USD Billion in December of 2008 and a record low of 3.2 USD Billion in

December of 1960. The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services. produced within the country

in a stipulated period of time.

PORTUGAL GDP

Employed Persons in Portugal decreased to 4433.20 Thousand Persons in the first quarter of 2013 from 4531.80 Thousand Persons in the fourth quarter of 2012. Employed Persons in Portugal is reported by the National Statistics Office, Portugal. Historically, from 1988 until 2013, Portugal Employed Persons averaged 4749.44 Thousand Persons reaching an all time high of 5228.10 Thousand Persons in May of 2008 and a record low of 4215.20 Thousand Persons in February of 1994. In Portugal, employed persons are individuals with a minimum required age who work during a certain time for a business.

PORTUGAL EMPLOYED PERSONS

Unemployment Rate in Portugal increased to 17.70 percent in the first quarter of 2013 from 16.90 percent in the fourth quarter of 2012. Unemployment Rate in Portugal is reported by the Instituto Nacional de Estatistica.

PORTUGAL UNEMPLOYMENT RATE

Portugal recorded a Government Debt to GDP of 123.60 percent of the country's Gross Domestic Product in 2012. Government Debt To GDP in Portugal is reported by the Eurostat. Historically, from 1990 until 2012, Portugal Government Debt To GDP averaged 65.1 Percent reaching an all time high of 120.6 Percent in December of 2012 and a record low of 48.5 Percent in December of 2000. Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields

PORTUGAL GOVERNMENT DEBT TO GDP

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