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Economy of Portugal vs Qatar compared: GDP & Debt

Updated on by Georank

Portugal has a GDP of $347B compared to $216B for Qatar, ranking 46/197 and 56/197 by economy size, respectively.

Portugal has $312B in government debt (89.9% of GDP), compared to $89.2B (41.4% of GDP) in Qatar.

Portugal vs Qatar GDP by year

Portugal
Qatar
1x
Year GDP, current $
Portugal Qatar
2025 $346,639,825,142 $215,559,615,385
2024 $313,656,884,871 $216,294,505,495
2023 $292,323,800,949 $213,002,809,341
2022 $256,898,677,175 $235,709,325,714
2021 $256,055,879,091 $179,732,009,560
2020 $229,618,773,423 $144,411,363,352
2019 $240,115,970,063 $176,371,267,692
2018 $242,092,894,543 $183,334,953,819
2017 $220,862,990,767 $161,099,122,225
2016 $206,305,431,242 $151,732,181,868
2015 $199,038,523,120 $161,739,955,577
2014 $230,078,616,300 $206,224,598,571
2013 $226,677,408,292 $198,727,642,967
2012 $216,536,676,772 $186,833,502,363
2011 $245,426,767,676 $167,775,274,725
2010 $238,443,864,993 $125,122,252,747
2009 $244,667,762,836 $97,798,351,648
2008 $263,416,394,624 $115,269,780,220
2007 $240,496,147,317 $79,711,813,187
2006 $208,756,449,276 $60,882,142,857
2005 $197,253,876,705 $44,530,494,505
2004 $189,382,122,532 $31,734,065,934
2003 $165,226,175,537 $23,533,791,209
2002 $134,795,565,549 $19,363,736,264
2001 $121,604,107,165 $17,538,461,538
2000 $118,605,192,877 $17,759,890,110
1999 $127,470,385,557 $12,393,131,868
1998 $123,946,327,916 $10,255,494,505
1997 $117,016,535,163 $11,297,802,198
1996 $122,630,089,680 $9,059,340,659
1995 $118,122,007,430 $8,137,912,088
1994 $99,688,641,304 $7,374,450,549
1993 $95,009,751,901 $7,156,593,407
1992 $107,592,098,307 $7,646,153,846
1991 $89,233,599,278 $6,883,516,484
1990 $78,713,860,217 $7,360,439,560
1989 $60,594,092,182 $6,487,912,088
1988 $56,347,250,696 $6,038,186,813
1987 $48,182,925,857 $5,446,428,571
1986 $38,745,901,354 $5,053,021,978
1985 $27,115,807,742 $6,153,296,703
1984 $25,217,969,050 $6,870,329,670
1983 $27,239,650,742 $6,484,890,110
1982 $30,527,754,793 $7,611,263,736
1981 $31,977,276,873 $8,672,527,473
1980 $32,896,519,824 $7,837,915,956
1979 $26,622,819,672 $5,632,962,997
1978 $23,487,614,051 $4,052,000,413
1977 $21,439,523,311 $3,617,564,638
1976 $20,332,831,565 $3,284,273,987
1975 $19,347,607,843 $2,512,773,166
1974 $17,512,391,476 $2,401,403,227
1973 $15,090,564,186 $793,885,560
1972 $11,239,117,865 $510,262,500
1971 $9,201,604,240 $387,703,106
1970 $8,108,235,704 $301,791,302
1969 $7,287,555,035 -
1968 $6,644,693,214 -
1967 $6,002,607,030 -
1966 $5,370,108,031 -
1965 $4,901,711,248 -
1964 $4,429,202,657 -
1963 $4,084,251,593 -
1962 $3,835,883,663 -
1961 $3,573,719,085 -
1960 $3,339,150,158 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/portugal/qatar | CC BY

GDP per capita in Portugal vs Qatar by year

Portugal
GDP per capita

GDP per capita, PPP
Qatar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Portugal Qatar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $32,082 - $72,525 -
2024 $29,328 $51,680 $75,685 $126,046
2023 $27,635 $49,353 $80,196 $129,368
2022 $24,621 $45,250 $88,701 $122,921
2021 $24,711 $38,658 $71,752 $116,833
2020 $22,299 $35,967 $51,684 $82,149
2019 $23,343 $37,866 $66,841 $107,503
2018 $23,541 $34,897 $71,040 $110,033
2017 $21,442 $32,971 $63,280 $99,358
2016 $19,980 $31,589 $61,254 $89,935
2015 $19,216 $29,608 $68,985 $102,546
2014 $22,121 $28,765 $95,841 $148,389
2013 $21,676 $27,966 $103,697 $169,203
2012 $20,593 $26,476 $108,470 $180,939
2011 $23,247 $26,803 $103,262 $174,620
2010 $22,552 $27,292 $77,387 $151,646
2009 $23,151 $26,472 $60,786 $125,898
2008 $24,949 $26,666 $80,781 $126,015
2007 $22,811 $25,738 $65,954 $124,056
2006 $19,839 $24,677 $62,582 $127,181
2005 $18,780 $22,725 $53,950 $115,250
2004 $18,064 $21,476 $41,036 $110,958
2003 $15,798 $20,850 $31,602 $94,120
2002 $12,937 $20,357 $27,227 $93,177
2001 $11,735 $19,529 $25,871 $89,805
2000 $11,526 $18,883 $27,535 $88,849
1999 $12,475 $17,718 $20,234 $84,690
1998 $12,199 $16,688 $17,665 $84,486
1997 $11,576 $15,789 $20,523 $79,219
1996 $12,185 $14,922 $17,125 $62,331
1995 $11,781 $14,406 $15,823 $60,321
1994 $9,977 $13,578 $14,765 $59,415
1993 $9,535 $13,202 $14,770 $59,125
1992 $10,811 $13,182 $16,280 $60,387
1991 $8,959 $12,739 $15,133 $54,759
1990 $7,885 $11,780 $16,722 $55,659
1989 $6,056 - $15,243 -
1988 $5,624 - $14,682 -
1987 $4,804 - $13,719 -
1986 $3,862 - $13,213 -
1985 $2,705 - $16,815 -
1984 $2,523 - $19,749 -
1983 $2,735 - $19,669 -
1982 $3,080 - $24,431 -
1981 $3,246 - $29,543 -
1980 $3,368 - $28,407 -
1979 $2,756 - $21,777 -
1978 $2,457 - $16,757 -
1977 $2,267 - $16,058 -
1976 $2,173 - $15,710 -
1975 $2,128 - $13,014 -
1974 $2,000 - $13,540 -
1973 $1,748 - $4,905 -
1972 $1,302 - $3,483 -
1971 $1,065 - $2,952 -
1970 $934 - $2,594 -
1969 $832 - - -
1968 $752 - - -
1967 $676 - - -
1966 $601 - - -
1965 $545 - - -
1964 $490 - - -
1963 $452 - - -
1962 $426 - - -
1961 $400 - - -
1960 $377 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/portugal/qatar | CC BY

Portugal's GDP per capita is $32,082, ranking 43/197, compared to $72,525 in Qatar, ranking 13/197. Adjusted for purchasing power (GDP per capita PPP), Portugal ranks 42nd at $51,680, while Qatar ranks 5th at $126,046.

Economic indicators

Portugal Qatar
Gross domestic product
$347B
2025
$216B
2025
GDP rank
46/197
2025
56/197
2025
GDP growth
1.86%
2024-2025
2.9%
2024-2025
GDP per capita
$32,082
2025
$72,525
2025
GDP per capita rank
43/197
2025
13/197
2025
GDP per capita, PPP
$51,680
2024
$126,046
2024
GDP per capita PPP rank
42/197
2024
5/197
2024
Government debt
$312B
2025
$89.2B
2025
Debt-to-GDP ratio
89.9%
2025
41.4%
2025
Government debt per person
$28,843
2025
$30,009
2025
Government debt per person rank
26/185
2025
24/185
2025
Average annual personal income after taxes
$16,647
2026
$37,042
2026
Market capitalization of domestic companies
$61.9B
2018
$177B
2025
Number of millionaires
181,000
2026
30,000
2026
Number of billionaires
1
2026
2
2026
Income share by richest 10%
26.9%
2023
25.8%
2017
Income share by poorest 10%
2.7%
2023
2.6%
2017
Government expenditure, % of GDP
43.7%
2025
27.1%
2025
Consumer prices inflation
2.34%
2024-2025
0.6%
2024-2025
Central bank interest rate n/a
4.1%
2025
Unemployment rate
6%
2025
0.1%
2024
Population
10788071
3058826

Spending and national debt comparison by year

Portugal
Spending

Debt
Qatar
Spending

Debt
1x
Year % of GDP
Portugal Qatar
Government spending Government debt Government spending Government debt
2025 43.7% 89.9% 27.1% 41.4%
2024 42.5% 93.5% 26% 41.3%
2023 41.9% 96.9% 26.7% 42.8%
2022 43.9% 111.2% 24.3% 42.6%
2021 47.3% 123.9% 29.4% 58.4%
2020 49.1% 134.1% 34.7% 72.6%
2019 42.5% 116.1% 32.5% 62.1%
2018 43.3% 121.1% 28.9% 52.2%
2017 45.5% 126% 34.7% 51.6%
2016 44.9% 131.2% 40.1% 46.7%
2015 48.2% 131% 38.6% 35.5%
2014 51.7% 132.5% 32.3% 24.9%
2013 50% 130.8% 28.3% 30.9%
2012 48.8% 128.6% 31% 32.1%
2011 50% 114% 28.5% 33.5%
2010 51.9% 100.1% 32% 30.4%
2009 50.3% 87.8% 36.4% 36%
2008 45.5% 75.6% 23.5% 11.4%
2007 44.6% 72.7% 29.5% 9.37%
2006 45.2% 73.7% 29.5% 13.9%
2005 46.7% 72.2% 29% 19.1%
2004 46% 67.1% 29.9% 30.1%
2003 45.3% 63.9% 28.5% 38.8%
2002 44.2% 60% 31.6% 47.7%
2001 44.1% 57.4% 32.1% 59.2%
2000 42.8% 54.2% 29.8% 51.6%
1999 42.5% 55.4% 42.4% 81.8%
1998 42.6% 55.6% 55.1% 76.6%
1997 42.4% 58.7% 47.6% 54.4%
1996 43% 63.3% 55.2% 57.8%
1995 42.6% 62.2% 52.2% 50.2%
1994 42.8% 60.4% 59.8% 54.8%
1993 46.5% 57.2% 62.8% 46.3%
1992 48.2% 58.1% 54.2% 19.9%
1991 45.9% 63.9% 57.5% 21.8%
1990 42.2% 60.2% 50% 12.6%
1989 36.2% 55.4% - -
1988 36.2% 56.8% - -
1987 37.5% 57.2% - -
1986 38.9% 59.8% - -
1985 37.5% 59.4% - -
1984 34.6% 51.3% - -
1983 34.7% 46.7% - -
1982 35.8% 43% - -
1981 35.3% 39.3% - -
1980 32.4% 31% - -
1979 30.8% 35.2% - -
1978 31.7% 31.4% - -
1977 35.1% 26.9% - -
1976 38.2% 24.5% - -
1975 31.9% 19.2% - -
1974 25.8% 13.5% - -
1973 25.7% 13.6% - -
1972 22.8% 14.5% - -
1971 15.5% 15.7% - -
1970 15.5% 16.5% - -
1969 14.9% 16.8% - -
1968 14.3% 17.2% - -
1967 14.1% 18.5% - -
1966 14.4% 20.2% - -
1965 13.4% 20.4% - -
1964 13.9% 21.9% - -
1963 14.6% 20.8% - -
1962 14.5% 18.7% - -
1961 14.6% 17.1% - -
1960 14.3% 16.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-07-08).

GeoRank.org/economy/portugal/qatar | CC BY

In 2025, Portugal's government spending was $152B, accounting for 43.7% of its GDP, while Qatar spent $58.4B, or 27.1% of GDP.

Debt-to-GDP ratio is 89.9% in Portugal and 41.4% in Qatar, ranking 30/185 and 127/185, respectively.

Government deficit by year

Deficit/surplus
Portugal

Qatar
1x
Year Deficit/surplus, % of GDP
Portugal Qatar
2025 0.31% -1%
2024 0.5% 0.71%
2023 1.26% 5.51%
2022 -0.31% 10.4%
2021 -2.83% 0.24%
2020 -5.75% -2.13%
2019 0.12% 1%
2018 -0.43% 2.26%
2017 -3% -6.82%
2016 -1.94% -9.2%
2015 -4.37% 18.4%
2014 -7.32% 13.4%
2013 -5.21% 19.3%
2012 -6.2% 8.55%
2011 -7.73% 5.24%
2010 -11.4% 4.6%
2009 -9.87% 14.1%
2008 -3.81% 9.49%
2007 -2.91% 10.3%
2006 -4.06% 8.39%
2005 -6.05% 9.8%
2004 -5.91% 17.7%
2003 -5.57% 6.71%
2002 -3.7% 7.89%
2001 -4.68% 4.48%
2000 -3.32% 4.62%
1999 -2.93% -4.35%
1998 -4.3% -7%
1997 -3.65% -9.4%
1996 -4.63% -8.73%
1995 -5.14% -5.78%
1994 -7.37% -11.8%
1993 -8.06% -9.53%
1992 -5.19% -2.74%
1991 -7.93% -2.57%
1990 -6.82% 3.23%
1989 -2.86% -
1988 -3.52% -
1987 -6.79% -
1986 -7.45% -
1985 -8.35% -
1984 -5.23% -
1983 -4.86% -
1982 -7.02% -
1981 -8.34% -
1980 -6.92% -
1979 -6.08% -
1978 -7.15% -
1977 -7.5% -
1976 -10.2% -
1975 -7.1% -
1974 -3.2% -
1973 -5.39% -
1972 -7.72% -
1971 -0.23% -
1970 -0.24% -
1969 -1.53% -
1968 -1.24% -
1967 -0.46% -
1966 -2% -
1965 -0.03% -
1964 -1.93% -
1963 -3.33% -
1962 -1.69% -
1961 -3.17% -
1960 -3.13% -
1959 -1.73% -
1958 -0.52% -
1957 0.08% -
1956 -0.18% -
1955 -0.31% -
1954 -0.58% -
1953 -0.35% -
1952 -0.34% -
1951 0.94% -
1950 -0.83% -
1949 -0.46% -
1948 -2.04% -
1947 -1.65% -
1946 -2.32% -
1945 -2.38% -
1944 -1.44% -
1943 0.03% -
1942 -0.35% -
1941 -0.08% -
1940 -1.74% -
1939 -0.73% -
1938 -0.08% -
1937 -0.09% -
1936 0.08% -
1935 0.75% -
1934 0.6% -
1933 -0.07% -
1932 -0.03% -
1931 0.04% -
1930 0.79% -
1929 1.86% -
1928 0.2% -
1927 -2.27% -
1926 -4.21% -
1925 -1.48% -
1924 -3.16% -
1923 -3.47% -
1922 -10% -
1921 -6.5% -
1920 -5.66% -
1919 -8.83% -
1918 -8.3% -
1917 -5.49% -
1916 - -
1915 - -
1914 - -
1913 -0.34% -
1912 -0.02% -
1911 -0.73% -
1910 -0.19% -
1909 -0.82% -
1908 -0.56% -
1907 -0.69% -
1906 -0.45% -
1905 -0.75% -
1904 -0.26% -
1903 -0.91% -
1902 -0.5% -
1901 -0.69% -
1900 -0.35% -
1899 -0.77% -
1898 -0.5% -
1897 -0.93% -
1896 -1.35% -
1895 -0.2% -
1894 -0.16% -
1893 -0.02% -
1892 -0.8% -
1891 -2.15% -
1890 -2.01% -
1889 -1.95% -
1888 -2.14% -
1887 -0.67% -
1886 -1.43% -
1885 -1.68% -
1884 -1.48% -
1883 -1.1% -
1882 -0.39% -
1881 -1.2% -
1880 -1.63% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/portugal/qatar | CC BY

In 2025, Portugal's government surplus, the difference between spending and revenue, was $1.07B, equivalent to 0.31% of GDP. This compares to Qatar's deficit of $2.16B, or 1% of GDP.

Over the past 36 years, Portugal recorded a fiscal deficit in 32 of those years, while Qatar ran a deficit in 13 years. On average, Portugal posted an annual deficit equal to 4.45% of GDP, compared to surplus of 2.92% of GDP for Qatar.

Inflation comparison by year

Inflation
Portugal

Qatar
1x
Year Consumer prices inflation
Portugal Qatar
2025 2.34% 0.6%
2024 2.42% 1.2%
2023 4.31% 3.1%
2022 7.83% 5%
2021 1.27% 2.3%
2020 -0.01% -2.5%
2019 0.34% -0.9%
2018 0.99% 0.1%
2017 1.37% 0.6%
2016 0.61% 2.7%
2015 0.49% 0.9%
2014 -0.28% 4.2%
2013 0.27% 3.1%
2012 2.77% 1.8%
2011 3.65% 2%
2010 1.4% -2.4%
2009 -0.84% -4.9%
2008 2.59% 15.1%
2007 2.45% 13.7%
2006 3.11% 11.7%
2005 2.28% 9%
2004 2.37% 6.8%
2003 3.22% 2.3%
2002 3.6% 0.2%
2001 4.37% 1.7%
2000 2.85% 1.6%
1999 2.34% 2.2%
1998 2.57% 2.9%
1997 2.34% 2.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/portugal/qatar | CC BY

Over the past 29 years, Portugal has recorded an average annual inflation rate of 2.17%, compared with 2.99% in Qatar. In 2025, inflation was 2.34% in Portugal and 0.6% in Qatar.

Top exports between countries

Portugal
Export category Export value
Textiles & consumer goods $10.8M
Machinery & equipment $8.53M
Raw materials & minerals $3.75M
Chemicals & pharma $2.53M
Wood & paper products $2.16M
Precious metals & jewellery $1.43M
Metals $1.39M
Animal & marine products $1.36M
Processed food, beverages & tobacco $1.01M
Raw agricultural goods $860K
Qatar
Export category Export value
Raw materials & minerals $60.3M
Chemicals & pharma $24M
Textiles & consumer goods $602K
Machinery & equipment $256K
Processed food, beverages & tobacco $129K
Metals $75K
Animal & marine products $69K
Miscellaneous $14K

Balance of trade

Portugal Qatar
Current account balance
$6.51B
2024
$31.9B
2025
Current account balance ranking
30/190
2024
17/190
2025
Current account balance, % of GDP
+2.08%
2024
+14.8%
2025
Goods imports
$109B
2024
$34.3B
2025
Goods exports
$81.4B
2024
$90B
2025
Service imports
$27.9B
2024
$31.3B
2025
Service exports
$62.7B
2024
$24.4B
2025
Imports of goods and services, % of GDP
42.7%
2025
31.6%
2022
Exports of goods and services, % of GDP
43.7%
2025
68.6%
2022

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Portugal Qatar
Economic freedom 71.2 70.2
Economic freedom ranking 33/197 37/197
Property rights 88.9 66.2
Government integrity 63.4 53.5
Judicial effectiveness 90.1 41.5
Tax burden 60.6 99.9
Government spending 44.6 79.9
Fiscal health 82 96.6
Business freedom 83.1 68
Labor freedom 54.8 58.5
Monetary freedom 77.7 76
Trade freedom 79.4 81.8
Investment freedom 70 60
Financial freedom 60 60

Economic freedom comparison by year

Portugal
Qatar
1x
Year Economic freedom index
Portugal Qatar
2026 71.2 70.2
2025 70.5 70.2
2024 68.7 68.8
2023 69.5 68.6
2022 70.8 67.7
2021 67.5 72
2020 67 72.3
2019 65.3 72.6
2018 63.4 72.6
2017 62.6 73.1
2016 65.1 70.7
2015 65.3 70.8
2014 63.5 71.2
2013 63.1 71.3
2012 63 71.3
2011 64 70.5
2010 64.4 69
2009 64.9 65.8
2008 63.9 62.2
2007 64 62.9
2006 62.9 62.4
2005 62.4 63.5
2004 64.9 66.5
2003 64.9 65.9
2002 65.4 61.9
2001 66 60
2000 65.5 62
1999 65.6 62
1998 65 -
1997 63.6 -
1996 64.5 -
1995 62.4 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/portugal/qatar | CC BY

The Economic Freedom Index for Portugal is 71.2, ranking 33/197, compared to 70.2 for Qatar, ranking 37/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Portugal Qatar
Services, % of GDP
66.6%
2025
47%
2025
Industry, % of GDP
18.3%
2025
57%
2025
Agriculture, forestry, and fishing, % of GDP
1.96%
2025
0.31%
2025
GNI, Atlas method
$323B
2025
$221B
2025
GNI per capita, PPP
$52,240
2025
$126,290
2025
Total reserves including gold
$68.8B
2025
$55.8B
2025
Total reserves ranking
39/177
2025
45/177
2025
Net foreign direct investment
-$6.64B
2024
$311M
2025
Net inflows of foreign direct investment
$13.5B
2024
$460M
2024
Net outflows of foreign direct investment
$6.84B
2024
$1.56B
2024
Poverty at national poverty lines
16.4%
2021
n/a
Gross capital formation, % of GDP
21%
2025
30.6%
2022

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/portugal/qatar | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.