Economic relations between the two markets
Trade between Portugal and the UK
Portugal and the United Kingdom have strong relations, sharing political, diplomatic and economic alliances, relevant trade relations and a common past. Today, the United Kingdom is a major economic partner for Portugal, being Portugal's fourth biggest export market for goods and the first for services.
Area: 242 509 km2
Population (million inhab.): 65,105,246 (July 2018, estimate)
Capital: London
Prime Minister: Boris Johnson
Head of State: Queen Elizabeth II
Official language: English
Currency: British Pound (GBP)
Tx. Exchange rate (average): 1 EUR = 0.89 GBP (September 2019)
| GDP market prices: $ 2.925 billion (2017 est.) | Current account balance (% GDP): -4.9 (2017 est.) |
| GDP per capita (in ppc): $ 44,300 (2017 est.) | Inflation rate (average): 2.7% (2017 est.) |
| Real GDP growth: 1.7% (2017 est.) |
The United Kingdom is the fifth biggest economy in the world and the second biggest in the European Union, according to the World Bank. The country was the fourth world importer of goods (the second in Europe) and the sixth in terms of services (the fourth in Europe) in 2016. It also stands out as the second world exporter of services (the first in Europe) and the tenth of goods (the fifth in Europe).
The British population is about 65 million, of which approximately 84% live in England, 8% in Scotland, 5% in Wales and 3% in Northern Ireland. About 19% of the population is under 15 years old, 64% is between 16-64 years old and 18% is over 64 years old.
Business Environment Competitiveness (Rank in the Global Competitiveness Index ,2018): 8th
Business Facility (Rank in Doing Business Rep., 2019): 9th
Transparency (Rank in the Corruption Perceptions Index, 2018): 11th
Trade between the UK and Portugal
| Posição |
% |
|
| The United Kingdom as a customer of Portugal (2017) |
5º |
6,6 (exports) |
| The United Kingdom as a supplier to Portugal (2017) |
7º | 2,7(imports) |
| Portugal as a customer from the United Kingdom (2017) |
32º |
0,46 (exports) |
| Portugal as a supplier to the United Kingdom (2017) |
29º |
0,60 (imports) |
Source: AICEP - United Kingdom - Country Summary, updated on 23/03/2018.
Unit: Millions of Euros.Note: (a) Tobacco, hats, umbrellas, stones and precious metals, weapons, furniture, toys, works of art, various works.
Source: AICEP - United Kingdom - Country Summary, updated on 23/03/2018.
Unit: Millions of Euros.
Unit: Millions of Euros.
Note: (a) Tobacco, hats, umbrellas, stones and precious metals, weapons, furniture, toys, works of art, various works.