Portugal External Debt Clock 


Or about:

Portugal Gross External Debt.
Calibrated from data from World Bank, Quarterly External Debt Statistics/SDDS, and Banco de Portugal.

More debt clocks:
Portugal Government Debt
US Gross Federal Debt Outstanding
US External Debt


External debt ratios Portugal

Portuguese external debt represents a big burden for an economy with the size and the structure of Portugal's. It is more than twice the size of GDP and more than five fold the value of yearly exports. Central government has the heavier share of the external debt with 39%, followed by the private sector at 29%, and the Central bank at 24%. In the recent years the country succeeded in bringing the foreign debt down, mainly by turning the trade balance around. It is good news. However, the salient contributor to this trend reversal has been tourism income. The latter's increase is greatly due to the chaos caused by the wars engaged by the West against Central Asia, Middle East and Africa, which deflected tourist flows to safer destinies. Can Portugal take advantage of the bonanza and improve the fundamentals of its vulnerable economy? Historically, the country has been blessed with cyclical inflows of wealth. The 16th century's spices from the Indies. The 18th century's gold and precious stones from Brazil. The 19th century's benefits from the Atlantic slave trade. The late 20th century's EU money. In all instances, the wealth was rapidly wasted, and the country relapsed in its deep slumbering. As yet, nothing suggests that the situation will evolve otherwise.



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