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Portugal Current Account to GDP Ratio

Portugal's current account balance reached a surplus of 2.2% of GDP in 2024, an increase from 0.6% in 2023. This widening of the surplus was driven by a larger services surplus, due to increased tourism revenues. Tourism revenues rose from €2,825 million to €3,077 million between September 2023 and September 2024. The secondary income surplus also increased year-on-year from €426 million to €473 million during the same period. Additionally, the goods deficit narrowed, falling from €2,412 million in September 2023 to €1,920 million in September 2024. Despite this improvement which represents the highest current account to GDP ratio since 1986, Portugal recorded a higher surplus of 3.1% of GDP in 1986. Portugal's record low current account to GDP was -14.7% in 1981.

Yearly Historical Data (1980-2024)

(in %)
Year Current Account to GDP Ratio
2024 2.2%
2023 0.6%
2022 -2%
2021 -0.7%
2020 -0.7%
2019 0.8%
2018 0.8%
2017 1.5%
2016 1.4%
2015 0.5%
2014 0.2%
2013 1.6%
2012 -1.6%
2011 -6%
2010 -10.3%
2009 -10.3%
2008 -11.8%
2007 -9.6%
2006 -10.3%
2005 -9.6%
2004 -8%
2003 -6.6%
2002 -8.4%
2001 -10.4%
2000 -10.8%
1999 -8.9%
1998 -7.6%
1997 -6.1%
1996 -4.4%
1995 -0.1%
1994 -2.2%
1993 0.2%
1992 -0.2%
1991 -0.8%
1990 -0.2%
1989 0.3%
1988 -2%
1987 0.9%
1986 3.1%
1985 1.4%
1984 -2.4%
1983 -5.9%
1982 -10.8%
1981 -14.7%
1980 -3.3%
Portugal Current Account to GDP Ratio : Definition
Portugal's current account to GDP shows the current account balance as a percentage of Portugal's gross domestic product. It's calculated by dividing the current account balance which includes trade in goods, services, income and current transfers, by the GDP. The result is then multiplied by 100. A surplus means more money is flowing into Portugal than out. A deficit indicates the opposite.
Indicator Last Value Prior Value Period
Debt to GDP Ratio 93.6% 97.7% Dec'24
Private Credit (% GDP) 78.36% 80.95% 2024