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| Capital city: |
Lisbon |
| Surface area: |
92,000 sq km |
| Population: |
10.6 million |
| Official language(s): |
Portugese |
| Head of State: |
President HE Prof Anibal Cavaco Silva |
| Head of Government: |
Prime Minister HE Mr José Sócrates |
| Australian exports to Portugal: |
A$31 million |
| Australian imports from Portugal: |
A$187 million |
| Portugal's principal export destinations: |
Spain, Germany, France |
| Portugal's principal import sources: |
Spain, Germany, France | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Portugal entered the European Union (EU) in 1986 and ensuing governments, supported by the banking sector, have introduced solid programs to liberalise markets, privatise and restructure industry, and crack down on tax evasion. As a result Portugal's economy has witnessed significant growth and modernisation since the mid-1990s and is now considered to be a diversified and service-based economy. This economic growth has slowed down considerably during the past couple of years.
Key economic indicators and statistics for 2008:
- GDP - US$255.5 billion
- GDP per capita - US$24,031
- Real GDP growth - 0.6 per cent
- Inflation - 3.2 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Portugal became a republic in 1910 and is a parliamentary democracy. The National Assembly is elected for a five-year term. The government is committed to strategies that will allow Portugal to develop rapidly and further narrow the gap between it and its prosperous European partners. Both the Socialist government, in office since October 1996, and the Social Democrats, the party that ruled Portugal for the previous decade and is now the main opposition in the National Assembly, strongly support European integration. |
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Trade relations and statistics
With it’s joining of the European Union (EU) in 1986 and the dismantling of tariffs and other trade barriers, the EU became Portugal’s major trading partner.
There is room for improvement in the level of trade between Australia and Portugal. Major items sold to Portugal include motor vehicles, cork manufactures, telelcom equipment and alcoholic beverages.
Major Australian exports to Portugal (2007–08):
- Aluminium – A$9 million
- Crude vegetable matter – A$1 million
- Electrical machinery and parts – A$1 million
- Electrical circuits equipment – A$1 million
Major Australian imports from Portugal (2007–08):
- Passenger motor vehicles – A$73 million
- Cork manufactures – A$36 million
- Telecom equipment and parts – A$5 million
- Alcoholic beverages – A$4 million
(Source: Department of Foreign Affairs and Trade – Country economic fact sheet) |
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