GDP per Capita · Data & Comparison
Portugal GDP per Capita
Portugal's GDP per capita: how does income per person compare in nominal and PPP terms?
In 2024 Portugal's GDP per capita was USD 29,089 at current prices, while the PPP-adjusted figure stood at USD 49,847, a ratio of 1.71. The nominal measure reflects market exchange rates, whereas the PPP measure adjusts for domestic price levels, which are lower than the EU average. Gross national income per capita was USD 26,910, 7.5% below GDP per capita, indicating net factor income outflows. Over the long run, nominal GDP per capita rose from USD 3,354 in 1980 to USD 29,089 in 2024, a 767% increase. The 2010s were a lost decade: nominal GDP per capita grew only 3.1% between 2010 and 2019, from USD 22,561 to USD 23,268, after the 2011 bailout and fiscal consolidation. The 2020s recovery has been stronger, with 31.1% growth from 2020 to 2024. This page sets out the current figures, the long-run series, the drivers of Portugal's income per person, and how the country compares with peers.
What is GDP per capita (nominal)?
GDP per capita is a country's GDP divided by its midyear population. It is the most common shorthand for average income or output per person.
How it is measured. Nominal GDP in current US dollars divided by midyear population. Because it uses market exchange rates, it ignores price-level differences between countries and says nothing about how income is distributed.
How to read it. Use it to compare average economic output per person. A high value can reflect high productivity or a small population with large resource or financial income, and it is not the same as median household income.
Source: World Bank WDI. See our methodology.
Current GDP per capita: nominal versus PPP
Latest nominal and PPP readings
Portugal's GDP per capita stood at USD 29,089 in 2024 on a nominal basis. The purchasing power parity (PPP) measure for the same year was USD 49,847, a ratio of roughly 1.71 to one. The gap reflects price-level differences: PPP converts output into a common basket of goods, removing the effect of lower domestic prices on the nominal figure. Both series cover the same 45 annual points from 1980 to 2024, so the divergence is a matter of valuation rather than coverage.
What separates the two measures
Nominal GDP per capita divides current-price output by population and is sensitive to exchange-rate movements. PPP GDP per capita applies conversion rates that equalise purchasing power, so it is less exposed to currency swings. In 2024 the nominal series reached USD 29,089, below the PPP reading of USD 49,847. The 2020s decade shows the pattern clearly: nominal GDP per capita grew 31.1 per cent from USD 22,196 in 2020 to the 2024 figure, while the PPP series rose 39.2 per cent from USD 35,815 to USD 49,847 over the same five years.
GNI per capita as a cross-check
Gross national income (GNI) per capita was USD 26,910 in 2024, about 7.5 per cent below the nominal GDP per capita figure of USD 29,089. The gap of roughly USD 2,179 is consistent with net factor income flows, including remittances and returns on foreign-owned capital. GNI per capita grew 22.8 per cent across the 2020s, from USD 21,910 in 2020, a slower rate than nominal GDP per capita over the same period. The comparison suggests output growth has run slightly ahead of income accruing to residents.
Decade context for the current level
The 2024 nominal figure of USD 29,089 exceeds the 2010s mean of USD 21,743 and the 2020s mean of USD 25,611. The 2010s nominal series grew only 3.1 per cent across the decade, from USD 22,561 in 2010 to USD 23,268 in 2019, with a trough of USD 19,195 during the sovereign debt crisis. The 2020s rebound of 31.1 per cent follows a 2020 contraction, when real GDP fell 8.2 per cent, the sharpest annual decline in the series.
Summary of the 2024 position
- Nominal GDP per capita: USD 29,089 (2024)
- PPP GDP per capita: USD 49,847 (2024)
- GNI per capita: USD 26,910 (2024)
- Nominal-to-PPP ratio: approximately 1.71
- Real GDP growth: 2.03 per cent (2024)
The three measures tell a consistent story: output per head has recovered from the 2020 trough, with PPP valuation placing Portugal's living standards materially above the nominal exchange-rate reading. The 2024 real growth rate of 2.03 per cent, against a 2020s mean of 1.85 per cent, indicates moderate expansion at the end of the period.
Latest income per capita measures, 2024
| Measure | Value (USD) | Year |
|---|---|---|
| GDP per capita (nominal) | 29,089 | 2024 |
| GDP per capita (PPP) | 49,847 | 2024 |
| GNI per capita (nominal) | 26,910 | 2024 |
| GDP (nominal, USD billion) | 310.9 | 2024 |
The long arc since 1980: decade by decade
Portugal's nominal GDP per capita rose from USD 3,353.57 in 1980 to USD 6,016.98 in 1989, a decade gain of 79.4 per cent. The PPP series followed a steeper path, moving from USD 6,503.63 to USD 12,368.59 over the same period, a gain of 90.2 per cent. Both measures therefore roughly doubled in current terms across the 1980s. The decade mean was USD 3,794.74 nominal and USD 9,007.43 PPP. Growth was supported by accession to the European Communities in 1986 and the associated inflow of structural funds.
The 1990s: convergence continues
Nominal GDP per capita opened the 1990s at USD 7,920.93 and closed at USD 12,481.48, a gain of 57.6 per cent. The PPP measure moved from USD 12,824.95 to USD 19,369.67, a gain of 51.0 per cent. The nominal decade mean was USD 10,751.45 against a PPP mean of USD 15,802.05. Average real GDP growth across the decade was 3.17 per cent, below the 3.52 per cent recorded in the 1980s. The nominal ratio of the 1999 level to the 1990 level, at roughly 1.58, exceeded the PPP ratio of about 1.51.
The 2000s: the strongest decade
The 2000s produced the largest percentage advance in the series. Nominal GDP per capita rose from USD 11,528.92 in 2000 to USD 23,138.65 in 2009, a gain of 100.7 per cent, with a peak of USD 24,947.67. The PPP series rose 32.2 per cent, from USD 20,522.28 to USD 27,122.78. Average real GDP growth was only 0.95 per cent, so most of the nominal gain reflected price effects rather than volume. The decade closed with output contracting 3.12 per cent in 2009, the first annual fall in the series.
The 2010s: stagnation
Nominal GDP per capita moved from USD 22,561.15 in 2010 to USD 23,267.78 in 2019, a gain of just 3.1 per cent, the weakest of any decade. The decade low was USD 19,194.75, reached during the sovereign debt crisis and the 2011 to 2014 adjustment programme. The PPP series fared better, rising 35.1 per cent from USD 27,939.31 to USD 37,740.87, with a mean of USD 30,702.41. Real GDP growth averaged 0.83 per cent across the decade, against 3.17 per cent in the 1990s. GNI per capita rose only 1.0 per cent, from USD 23,030 to USD 23,250.
The 2020s: recovery to date
Nominal GDP per capita fell to USD 22,196.33 in 2020 as real output contracted 8.20 per cent. By 2024 the nominal series had reached USD 29,089.37, a gain of 31.1 per cent over the 2020 opening level. The PPP measure rose from USD 35,814.74 to USD 49,846.95, a gain of 39.2 per cent, with a five-year mean of USD 43,377.28. Real growth in 2024 was 2.03 per cent. GNI per capita stood at USD 26,910 in 2024, a 22.8 per cent gain since 2020.
Reading the two series together
- Nominal GDP per capita multiplied 8.7 times between 1980 and 2024, from USD 3,353.57 to USD 29,089.37.
- PPP GDP per capita multiplied 7.7 times over the same span, from USD 6,503.63 to USD 49,846.95.
- The PPP to nominal ratio widened from 1.94 in 1980 to 1.71 in 2024, reflecting relative price convergence.
The contrast between the 100.7 per cent nominal gain of the 2000s and the 3.1 per cent gain of the 2010s is the dominant feature of the series. The 2020s recovery, at 31.1 per cent over four years, has restored nominal GDP per capita above its 2019 level of USD 23,267.78 by a margin of roughly 25 per cent.
Decade summary of GDP per capita (nominal and PPP)
| Decade | Nominal first (USD) | Nominal last (USD) | Nominal growth (%) | PPP first (USD) | PPP last (USD) | PPP growth (%) |
|---|---|---|---|---|---|---|
| 1980s | 3,354 | 6,017 | 79.4 | 6,504 | 12,369 | 90.2 |
| 1990s | 7,921 | 12,481 | 57.6 | 12,825 | 19,370 | 51.0 |
| 2000s | 11,529 | 23,139 | 100.7 | 20,522 | 27,123 | 32.2 |
| 2010s | 22,561 | 23,268 | 3.1 | 27,939 | 37,741 | 35.1 |
| 2020s | 22,196 | 29,089 | 31.1 | 35,815 | 49,847 | 39.2 |
What drives Portugal's income per person
Tourism dependence
Tourism is a structural component of Portuguese output and employment, concentrated in the Algarve, Lisbon and Porto. The sector's weight is visible in the 2020 contraction, when GDP per capita fell to USD 22,196 from USD 23,267 in 2019, and GDP growth recorded -8.20 per cent. Recovery was equally sharp: GDP per capita reached USD 29,089 in 2024, a 31.1 per cent rise across the 2020s to date, with GDP growth of 2.03 per cent in 2024. The rebound reflects restored foreign demand, but it also exposes income per head to seasonal and external shocks.
Productivity and the export base
Portugal's export base combines tourism, textiles, footwear, cork, automotive components and business services. Productivity growth has lagged, and the 2010s illustrate the consequence: GDP per capita rose only 3.1 per cent across the decade, from USD 22,561 in 2010 to USD 23,268 in 2019, while GNI per capita grew 1.0 per cent, from USD 23,030 to USD 23,250. GDP itself expanded just 0.7 per cent over the same ten years. Low capital deepening and a firm size distribution skewed toward small enterprises constrain output per worker.
EU structural funds
Accession to the European Communities in 1986 coincided with a period of rapid convergence. GDP per capita rose 79.4 per cent in the 1980s, from USD 3,354 in 1980 to USD 6,017 in 1989, and a further 57.6 per cent in the 1990s, reaching USD 12,481 by 1999. Structural and cohesion funds financed transport, infrastructure and human capital over these decades. The 2000s produced the strongest decade gain, 100.7 per cent, lifting GDP per capita to USD 23,139 by 2009, though part of that rise reflects euro adoption and price effects.
Public debt and fiscal constraints
Public debt rose sharply after the 2008 financial crisis and peaked during the 2011 to 2014 adjustment programme, when GDP per capita fell to a decade low of USD 19,195. The 2010s closed with GDP per capita at USD 23,268, barely above the 2010 level of USD 22,561. Debt service and consolidation compressed public investment, which weighs on the capital stock and on medium-term output per person.
Ageing population
Portugal has one of the fastest-ageing populations in Europe. A shrinking working-age cohort limits labour input growth, and the 2010s outcome of 3.1 per cent GDP per capita growth over ten years is consistent with that constraint. GNI per capita reached USD 26,910 in 2024 against GDP per capita of USD 29,089, a gap that reflects net factor income flows. Purchasing power parity GDP per capita stood at USD 49,847 in 2024, 39.2 per cent above the 2020 level of USD 35,815, indicating that price-level and productivity gaps with the euro area persist.
Summary of drivers
- Tourism: cyclical amplifier, evident in the 2020 fall to USD 22,196 and the 2024 recovery to USD 29,089.
- Productivity: weak, with 3.1 per cent GDP per capita growth across the 2010s.
- EU funds: associated with 79.4 per cent growth in the 1980s and 100.7 per cent in the 2000s.
- Public debt: post-2010 consolidation coincided with the USD 19,195 low.
- Ageing: constrains labour supply, with GNI per capita at USD 26,910 in 2024.
How Portugal compares with peers and what the figure does not capture
Portugal against EU peers
Portugal's GDP per capita reached USD 29,089 in 2024, up from USD 3,354 in 1980, a roughly 8.7-fold increase across 44 years. On a purchasing power parity basis the 2024 figure is USD 49,847, reflecting a price level well below the EU average. That PPP value places Portugal in the lower half of the EU distribution, above Greece and the Baltic states but below Slovenia, the Czech Republic and, by a wider margin, the cohesion leaders such as Ireland and Denmark. The nominal gap to the EU average has narrowed since the 1980s but has not closed.
The GNI per capita gap
Gross national income per capita stood at USD 26,910 in 2024 against GDP per capita of USD 29,089, a difference of USD 2,179 or 7.5 per cent. The gap reflects net factor income paid abroad, including profits repatriated by foreign-owned firms and interest on external debt. GNI grew 22.8 per cent over the 2020s to date, against 31.1 per cent for GDP per capita, so the wedge has widened. A GDP measure therefore overstates the income actually accruing to Portuguese residents by a margin that has grown, not shrunk, in the current decade.
Distribution and the decadal record
National averages conceal dispersion. Portugal's GDP per capita grew 3.1 per cent across the 2010s, from USD 22,561 to USD 23,268, a decade in which the minimum fell to USD 19,195 during the 2011 to 2014 adjustment programme. Growth of 31.1 per cent in the 2020s to date, from USD 22,196 to USD 29,089, follows a contraction of 8.2 per cent in 2020. Aggregate averages rose while regional and household outcomes diverged, with metropolitan Lisbon and Porto well above the national mean and interior regions below it.
What the measure does not capture
- Purchasing power: the PPP figure of USD 49,847 is 71 per cent above the nominal USD 29,089, so cross-country nominal comparisons understate Portuguese living standards.
- Income versus output: GNI of USD 26,910 captures resident income more accurately than GDP.
- Distribution: a single mean says nothing about median income, inequality or poverty rates.
- Non-market output: unpaid care, informal activity and public services valued at cost are excluded or underweighted.
- Volatility: the 2020 fall of 8.2 per cent and the 2024 rise of 2.0 per cent show how cyclical the series is.
GDP per capita is a useful benchmark of aggregate output per head. It is not a measure of household income, and for Portugal the 7.5 per cent gap between GDP and GNI per capita in 2024 is a material qualification on any living-standards claim drawn from the headline figure alone.
Portugal versus selected peers: GDP per capita (nominal and PPP), 2024
| Country | GDP per capita nominal (USD) | GDP per capita PPP (USD) | GNI per capita (USD) |
|---|---|---|---|
| Portugal | 29,089 | 49,847 | 26,910 |
| Spain | 34,000 | 52,000 | 33,000 |
| Greece | 23,000 | 38,000 | 22,000 |
| Czechia | 31,000 | 50,000 | 29,000 |
| EU average | 40,000 | 54,000 | 39,000 |
Frequently asked questions
What is Portugal's GDP per capita in current US dollars?
Portugal's GDP per capita was approximately $27,900 in 2023, measured in current US dollars at market exchange rates. This placed the country below the euro area average of roughly $41,000 and well under the European Union mean. In purchasing power parity terms the figure is higher, at about $45,000, reflecting lower domestic price levels than in northern Europe. The dollar series is volatile because it embeds exchange-rate movements: the euro's swings against the dollar explain a large part of the year-to-year change since 2015. For cross-country comparison, the PPP measure is the more stable reference. Both series show Portugal converging only slowly towards the EU average.
How has Portugal's GDP per capita grown since 2000?
Portugal's GDP per capita in constant prices grew by roughly 0.8% a year between 2000 and 2023, one of the weakest rates in the euro area. Cumulative real growth over that period was about 20%, against some 30% for the euro area as a whole. The series contracted sharply in 2012 and 2013 during the adjustment programme, then recovered from 2014. The 2020 pandemic caused a fall of about 8%, followed by a rebound of near 5% in 2021 and 2022. On the PPP measure, Portugal stood at around 77% of the EU average in 2023, down from about 80% in 2000. The long-run picture is of slow convergence, not divergence.
Which regions of Portugal have the highest GDP per capita?
Lisbon is the dominant region, with GDP per capita of about €31,000 in 2022, roughly 40% above the national average. The Lisbon metropolitan area accounts for around half of national output despite holding under 30% of the population. The Algarve follows, supported by tourism, at close to the national mean. At the other end, the Norte region outside Porto and the Centro interior record figures near €19,000, some 25% below the average. The Azores and Madeira sit below the mainland mean, at roughly €21,000 and €23,000 respectively. The gap between Lisbon and the poorest interior regions exceeds 60%, a dispersion wider than in most western European countries.
How does Portugal's GDP per capita compare with the European Union average?
On the purchasing power standard measure used by Eurostat, Portugal recorded about 77% of the EU average in 2023, against 100 for the union. That places it ahead of Greece and Slovakia but behind Czechia and Slovenia. The gap has narrowed only marginally since 2010, when the index stood near 79. In nominal terms the shortfall is larger: at market exchange rates, GDP per capita of about $27,900 compares with an EU mean near $41,000, or roughly 68%. The difference between the two ratios reflects lower price levels in Portugal, particularly for services. Convergence has stalled since the 2008 financial crisis, with the index fluctuating within a narrow band.
What drives GDP per capita differences within Portugal?
Productivity is the main factor. Gross value added per worker in Lisbon is roughly 1.4 times the national figure, while in parts of the interior it falls to about 0.7. Sectoral composition explains much of this: tourism and public administration dominate the Algarve and the interior, while financial and business services concentrate in Lisbon and Porto. Demographic structure matters too, since interior regions have median ages above 50 against about 45 nationally. Employment rates vary less, at around 70% in the Lisbon region against 65% in the interior. Capital stock per worker and firm size also differ, with the average Portuguese firm employing fewer than four people, which constrains investment in the less dense regions.
Is Portugal's GDP per capita expected to keep rising?
Forecasts point to modest growth. The European Commission projects Portuguese GDP growth of about 2% in 2024 and 1.9% in 2025, which implies GDP per capita growth near 1.5% a year after population effects. The IMF's medium-term projection is similar, at around 1.8% annually to 2029. Several factors support the figure: EU recovery funds worth some €22 billion in grants, tourism above pre-pandemic levels, and falling unemployment near 6.5%. Against this, an ageing population and weak productivity growth of about 1% a year limit the upside. On these projections, GDP per capita in PPP terms would reach roughly 80% of the EU average by 2030, a slow gain from 77% in 2023.