Portugal - statistics & facts
Despite being a small nation, Portugal stands out for being the westernmost country of mainland Europe, making up the Iberian Peninsula together with Spain and Andorra. The Portuguese Republic consists of continental Portugal and two archipelagos located in the Atlantic, Azores and Madeira. For approximately half of the twentieth century, Portugal was a dictatorship under the command of Ant贸nio de Oliveira Salazar. This period ended in 1974, when a coup known as the 鈥淩evolution of the Carnations鈥 ushered in a new democracy. Twelve years later, Portugal joined the European Union (EU) and is now a member of the UN, euro zone, OECD, NATO, WTO, OSCE, and Council of Europe.
The Portuguese language is one of the most widely spoken languages in the world, having almost 267 million speakers. This not only contributes to the global projection of Portugal, as also brings the Portuguese-speaking nations closer, which results in migratory and economic treaties.
After years of economic struggle, Portugal鈥檚 economic boost entails an estimated increasing gross domestic product (GDP) and GDP per capita for the upcoming years. While inflation soared in 2022, it has decreased during the following two years. Furthermore, an increase in employment and in the export of goods, namely to Spain, place Portugal on its way to economic growth.
Portugal currently presents a decrease in poverty compared to the pre-pandemic era; yet, being employed does not guarantee that one escapes the risk of poverty. The number of homeless people has dramatically increased, especially when considering unsheltered individuals, which highlights how sensitive the social situation of Portugal is. It is urgent that the positive economic transformation of the country is followed by a social upswing, still not in sight so far.
Demographic struggles
Portugal has a population of around 10.7 million and is among the European countries with the highest share of senior citizens. This is explained by a low national fertility rate, increasing life expectancy at birth, and high emigration figures. On the other hand, immigration has been increasing, with a peak of over one million foreign residents with a residency permit in 2023. Immigrants especially come from Portuguese-speaking countries, with Brazil dominating and Angola following at a distance.The Portuguese language is one of the most widely spoken languages in the world, having almost 267 million speakers. This not only contributes to the global projection of Portugal, as also brings the Portuguese-speaking nations closer, which results in migratory and economic treaties.
Economic recovery
Portugal鈥檚 demographic crisis deepened after the global financial crisis of 2008, which left the country under expanding debt and a severe budget deficit. In 2011, after the country asked international lenders for emergency assistance, a 78-billion-euro bailout was awarded on the condition that Portugal must reduce its budget deficit. Progress was made and, in 2015, after the country managed to reduce the budget deficit, it exited the program.After years of economic struggle, Portugal鈥檚 economic boost entails an estimated increasing gross domestic product (GDP) and GDP per capita for the upcoming years. While inflation soared in 2022, it has decreased during the following two years. Furthermore, an increase in employment and in the export of goods, namely to Spain, place Portugal on its way to economic growth.
Life in Portugal
In spite of the generally positive economic outlook, the Portuguese face difficult social circumstances. Unemployment has remained relatively stable over the past years and the average annual wages were at their highest in 2023. However, this has not been enough to counterbalance the increase in the house price index (HPI), the low wages which weaken purchasing power, and the insufficient social benefits that should aid those at risk of exclusion.Portugal currently presents a decrease in poverty compared to the pre-pandemic era; yet, being employed does not guarantee that one escapes the risk of poverty. The number of homeless people has dramatically increased, especially when considering unsheltered individuals, which highlights how sensitive the social situation of Portugal is. It is urgent that the positive economic transformation of the country is followed by a social upswing, still not in sight so far.
