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PortugalPortugal remains the least developed nation in Western Europe. Although the Portuguese economy grew by 5.3 percent annually from 1965 to 1980, the economic growth rate slowed to less than 1 percent during the 1980s; in the period 1990-1998 the gross domestic product (GDP) grew at an annual average of 2.3 percent. The GDP in 1998 was $107 billion. GDP: purchasing power parity—$149.5 billion (1997 est.) GDP—real growth rate: 3.3% (1997 est.) GDP—per capita: purchasing power parity—$15 200 (1997 est.) GDP—composition by sector: agriculture: 6% industry: 36% services: 58% (1995 est.) Inflation rate—consumer price index: 2.3% (1997 est.) Labor force: total: 4.53 million (1996 est.) by occupation: services 56% manufacturing 23% agriculture forestry fisheries 11% construction 8% utilities 1% mining 1% (1995) Unemployment rate: 7% (January 1998) Budget: revenues: $48 billion expenditures: $52 billion including capital expenditures of $7.4 billion (1996 est.) Industries: textiles and footwear; wood pulp paper and cork; metalworking; oil refining; chemicals; fish canning; wine; tourism Industrial production growth rate: 2.2% (1996 est.) Electricity—capacity: 8.831 million kW (1995) Electricity—production: 31.446 billion kWh (1995) Electricity—consumption per capita: 3 072 kWh (1995) Agriculture—products: grain potatoes olives grapes; sheep cattle goats poultry meat dairy products Exports: total value: $23.8 billion (f.o.b. 1996) commodities: clothing and footwear machinery cork and paper products hides partners: EU 76% other developed countries 9% (US 5%) Imports: total value: $33.9 billion (c.i.f. 1996) commodities: machinery and transport equipment agricultural products chemicals petroleum textiles partners: EU 72% other developed countries 8% (US 3%) less developed countries 17% (1995) Debt—external: $13.1 billion (1997 est.) Economic aid: donor: ODA $220 million (1996) recipient: ODA $70 million (1993) Currency: 1 Euro = 100 cents Fiscal year: calendar year
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