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Economy of Portugal vs Uzbekistan compared: GDP & Debt

Updated on by Georank team

Portugal has a GDP of $313B compared to $115B for Uzbekistan, ranking 46/197 and 66/197 by economy size, respectively.

Portugal has $297B in government debt (94.9% of GDP), compared to $37.5B (32.7% of GDP) in Uzbekistan.

Portugal vs Uzbekistan GDP by year

Portugal
Uzbekistan
1x
Year GDP, current $
Portugal Uzbekistan
2024 $313,271,185,085 $114,965,293,467
2023 $292,323,800,949 $102,641,879,249
2022 $256,898,677,175 $90,095,926,567
2021 $256,055,879,091 $77,340,060,003
2020 $229,618,773,423 $66,443,265,418
2019 $240,115,970,063 $67,293,639,798
2018 $242,092,894,543 $58,695,899,092
2017 $220,862,990,767 $69,703,222,283
2016 $206,305,431,242 $86,138,288,644
2015 $199,038,523,120 $86,196,264,755
2014 $230,078,616,300 $80,845,385,809
2013 $226,677,408,292 $73,180,037,915
2012 $216,536,676,772 $67,517,349,212
2011 $245,426,767,676 $60,178,909,297
2010 $238,443,864,993 $49,765,676,402
2009 $244,667,762,836 $33,689,223,673
2008 $263,416,394,624 $29,549,438,884
2007 $240,496,147,317 $22,311,393,928
2006 $208,756,449,276 $17,330,833,853
2005 $197,253,876,705 $14,307,509,839
2004 $189,382,122,532 $12,030,023,548
2003 $165,226,175,537 $10,134,453,435
2002 $134,795,565,549 $9,687,788,513
2001 $121,604,107,165 $11,401,421,329
2000 $118,605,192,877 $13,760,513,969
1999 $127,470,385,557 $17,078,465,982
1998 $123,946,327,916 $14,988,971,211
1997 $117,016,535,163 $14,744,603,774
1996 $122,630,089,680 $13,948,892,216
1995 $118,122,007,430 $13,350,461,265
1994 $99,688,641,304 $12,899,074,922
1993 $95,009,751,901 $13,099,920,056
1992 $107,592,098,307 $12,953,801,760
1991 $89,233,599,278 $13,800,167,712
1990 $78,713,860,217 $13,362,340,338
1989 $60,594,092,182 $11,948,815,258
1988 $56,347,250,696 $10,722,799,639
1987 $48,182,925,857 $8,523,160,593
1986 $38,745,901,354 -
1985 $27,115,807,742 -
1984 $25,217,969,050 -
1983 $27,239,650,742 -
1982 $30,527,754,793 -
1981 $31,977,276,873 -
1980 $32,896,519,824 -
1979 $26,622,819,672 -
1978 $23,487,614,051 -
1977 $21,439,523,311 -
1976 $20,332,831,565 -
1975 $19,347,607,843 -
1974 $17,512,391,476 -
1973 $15,090,564,186 -
1972 $11,239,117,865 -
1971 $9,201,604,240 -
1970 $8,108,235,704 -
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Portugal vs Uzbekistan by year

Portugal
GDP per capita

GDP per capita, PPP
Uzbekistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Portugal Uzbekistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,292 $51,680 $3,162 $11,879
2023 $27,635 $49,353 $2,879 $11,107
2022 $24,621 $45,250 $2,579 $10,293
2021 $24,711 $38,658 $2,259 $9,248
2020 $22,299 $35,967 $1,978 $8,452
2019 $23,343 $37,866 $2,041 $8,544
2018 $23,541 $34,897 $1,813 $8,129
2017 $21,442 $32,971 $2,191 $7,818
2016 $19,980 $31,589 $2,753 $6,919
2015 $19,216 $29,608 $2,803 $6,800
2014 $22,121 $28,765 $2,675 $6,610
2013 $21,676 $27,966 $2,462 $6,413
2012 $20,593 $26,476 $2,307 $6,168
2011 $23,247 $26,803 $2,088 $5,949
2010 $22,552 $27,292 $1,753 $5,505
2009 $23,151 $26,472 $1,206 $5,135
2008 $24,949 $26,666 $1,075 $4,800
2007 $22,811 $25,738 $824 $4,386
2006 $19,839 $24,677 $649 $3,956
2005 $18,780 $22,725 $543 $3,618
2004 $18,064 $21,476 $462 $3,321
2003 $15,798 $20,850 $394 $3,047
2002 $12,937 $20,357 $381 $2,902
2001 $11,735 $19,529 $454 $2,782
2000 $11,526 $18,883 $555 $2,644
1999 $12,475 $17,718 $698 $2,522
1998 $12,199 $16,688 $621 $2,418
1997 $11,576 $15,789 $621 $2,329
1996 $12,185 $14,922 $597 $2,214
1995 $11,781 $14,406 $583 $2,178
1994 $9,977 $13,578 $574 $2,197
1993 $9,535 $13,202 $596 $2,318
1992 $10,811 $13,182 $603 $2,371
1991 $8,959 $12,739 $658 $2,676
1990 $7,885 $11,780 $653 $2,665
1989 $6,056 - $598 -
1988 $5,624 - $551 -
1987 $4,804 - $450 -
1986 $3,862 - - -
1985 $2,705 - - -
1984 $2,523 - - -
1983 $2,735 - - -
1982 $3,080 - - -
1981 $3,246 - - -
1980 $3,368 - - -
1979 $2,756 - - -
1978 $2,457 - - -
1977 $2,267 - - -
1976 $2,173 - - -
1975 $2,128 - - -
1974 $2,000 - - -
1973 $1,748 - - -
1972 $1,302 - - -
1971 $1,065 - - -
1970 $934 - - -
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 (1960–2024, retrieved 2026-04-06).

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

Portugal's GDP per capita is $29,292, ranking 44/197, compared to $3,162 in Uzbekistan, ranking 139/197. Adjusted for purchasing power (GDP per capita PPP), Portugal ranks 42nd at $51,680, while Uzbekistan ranks 125th at $11,879.

Economic indicators

Portugal Uzbekistan
Gross domestic product
$313B
2024
$115B
2024
GDP rank
46/197
2024
66/197
2024
GDP growth
2.14%
2023-2024
6.5%
2023-2024
GDP per capita
$29,292
2024
$3,162
2024
GDP per capita rank
44/197
2024
139/197
2024
GDP per capita, PPP
$51,680
2024
$11,879
2024
GDP per capita PPP rank
42/197
2024
125/197
2024
Government debt
$297B
2024
$37.5B
2024
Debt-to-GDP ratio
94.9%
2024
32.7%
2024
Government debt per person
$27,807
2024
$1,032
2024
Government debt per person rank
27/185
2024
141/185
2024
Average annual personal income after taxes
$16,747
2026
$3,658
2026
Market capitalization of domestic companies
$61.9B
2018
$18.8B
2024
Number of millionaires
171,797
2025
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
26.9%
2023
25.7%
2024
Income share by poorest 10%
2.7%
2023
2.3%
2024
Government expenditure, % of GDP
42.8%
2024
27.6%
2024
Consumer prices inflation
2.42%
2023-2024
9.6%
2023-2024
Central bank interest rate n/a
14%
2025
Unemployment rate
6.43%
2024
5.29%
2020
Population
10667081
37939105

Spending and national debt comparison by year

Portugal
Spending

Debt
Uzbekistan
Spending

Debt
1x
Year % of GDP
Portugal Uzbekistan
Government spending Government debt Government spending Government debt
2024 42.8% 94.9% 27.6% 32.7%
2023 42.3% 97.7% 29.9% 32.2%
2022 43.9% 111.2% 31.3% 30.5%
2021 47.3% 123.9% 27.4% 31.7%
2020 49.1% 134.1% 26% 33.7%
2019 42.5% 116.1% 24.4% 25.4%
2018 43.3% 121.1% 22.2% 17.5%
2017 45.5% 126% 19.9% 17.3%
2016 44.9% 131.2% 23.3% 8.19%
2015 48.2% 131% 24.6% 6.72%
2014 51.7% 132.5% 24.9% 6.09%
2013 50% 130.8% 25.2% 6.23%
2012 48.8% 128.6% 23.9% 6.76%
2011 50% 114% 23.7% 6.33%
2010 51.9% 100.1% 26.4% 6.61%
2009 50.3% 87.8% 27.5% 7.3%
2008 45.5% 75.6% 26.5% 8.33%
2007 44.5% 72.7% 24.8% 9.56%
2006 45.1% 73.7% 24.7% 13.5%
2005 46.8% 72.2% 28.1% 21%
2004 46.1% 67.1% 29.4% 26.9%
2003 45.4% 63.9% 31.5% 31.4%
2002 44.2% 60% 34.6% 41.6%
2001 44.1% 57.4% 30.6% 44.8%
2000 42.8% 54.2% 32.9% 29.5%
1999 42.5% 55.4% 33.6% 18.4%
1998 42.6% 55.6% 35.1% 18%
1997 42.4% 58.7% 31.8% 15.3%
1996 43% 63.3% 35.1% -
1995 42.6% 62.2% 29.4% -
1994 42.8% 60.4% 27.1% -
1993 46.5% 57.2% 39.6% -
1992 48.2% 58.1% 18% -
1991 45.9% 63.9% - -
1990 42.2% 60.2% - -
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-02-20).

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

In 2024, Portugal's government spending was $134B, accounting for 42.8% of its GDP, while Uzbekistan spent $31.7B, or 27.6% of GDP.

Debt-to-GDP ratio is 94.9% in Portugal and 32.7% in Uzbekistan, ranking 27/185 and 152/185, respectively.

Government deficit by year

Deficit/surplus
Portugal

Uzbekistan
1x
Year Deficit/surplus, % of GDP
Portugal Uzbekistan
2024 0.7% -2.37%
2023 1.21% -4.03%
2022 -0.31% -3.65%
2021 -2.83% -4.1%
2020 -5.75% -2.95%
2019 0.12% -0.3%
2018 -0.43% 1.64%
2017 -3% 1.04%
2016 -1.94% 0.7%
2015 -4.37% -0.28%
2014 -7.32% 1.9%
2013 -5.21% 2.15%
2012 -6.2% 5.89%
2011 -7.73% 5.11%
2010 -11.4% 2.56%
2009 -9.87% 1.82%
2008 -3.81% 5.97%
2007 -2.91% 3.55%
2006 -4.07% 2.72%
2005 -6.11% -3.52%
2004 -5.99% -3.74%
2003 -5.66% -4.87%
2002 -3.73% -6.31%
2001 -4.73% -3.28%
2000 -3.35% -3.66%
1999 -2.99% -2.91%
1998 -4.3% -3.04%
1997 -3.65% -2.05%
1996 -4.63% -1.57%
1995 -5.14% -1.77%
1994 -7.37% -4.47%
1993 -8.06% -12%
1992 -5.19% 7.15%
1991 -7.93% -
1990 -6.82% -
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 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Portugal's government surplus, the difference between spending and revenue, was $2.19B, equivalent to 0.7% of GDP. This compares to Uzbekistan's deficit of $2.72B, or 2.37% of GDP.

Over the past 33 years, Portugal recorded a fiscal deficit in 30 of those years, while Uzbekistan ran a deficit in 20 years. On average, Portugal posted an annual deficit equal to 4.43% of GDP, compared to deficit of 0.87% of GDP for Uzbekistan.

Inflation comparison by year

Inflation
Portugal

Uzbekistan
1x
Year Consumer prices inflation
Portugal Uzbekistan
2024 2.42% 9.6%
2023 4.31% 10%
2022 7.83% 11.4%
2021 1.27% 10.8%
2020 -0.01% 12.9%
2019 0.34% 14.5%
2018 0.99% 17.5%
2017 1.37% 13.9%
2016 0.61% 8.8%
2015 0.49% 8.5%
2014 -0.28% 9.1%
2013 0.27% 11.7%
2012 2.77% 11.9%
2011 3.65% 12.4%
2010 1.4% 12.3%
2009 -0.84% 12.3%
2008 2.59% 13.1%
2007 2.45% 11.2%
2006 3.11% 13.1%
2005 2.28% 10.7%
2004 2.37% 7.3%
2003 3.22% 12.5%
2002 3.6% 27.3%
2001 4.37% 27.3%
2000 2.85% 25%
1999 2.34% 29.1%
1998 2.57% 29%
1997 2.34% 70.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Portugal has recorded an average annual inflation rate of 2.17%, compared with 16.6% in Uzbekistan. In 2024, inflation was 2.42% in Portugal and 9.6% in Uzbekistan.

Top exports between countries

Portugal
Export category Export value
Machinery & equipment $5.02M
Textiles & consumer goods $541K
Chemicals & pharma $328K
Wood & paper products $318K
Processed food, beverages & tobacco $119K
Raw materials & minerals $17K
Metals $12K
Raw agricultural goods $4K
Miscellaneous $2K
Precious metals & jewellery $2K
Uzbekistan
Export category Export value
Textiles & consumer goods $22.5M
Animal & marine products $770K
Chemicals & pharma $569K
Business & finance services $7K
Raw materials & minerals $3K

Balance of trade

Portugal Uzbekistan
Current account balance
$6.51B
2024
-$5.71B
2024
Current account balance ranking
28/190
2024
169/190
2024
Current account balance, % of GDP
+2.08%
2024
-4.97%
2024
Goods imports
$109B
2024
$33.2B
2024
Goods exports
$81.4B
2024
$19.6B
2024
Service imports
$27.9B
2024
$10.5B
2024
Service exports
$62.7B
2024
$6.55B
2024
Imports of goods and services, % of GDP
43.9%
2024
38%
2024
Exports of goods and services, % of GDP
45.8%
2024
22.8%
2024

Economic freedom indices

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

Portugal Uzbekistan
Economic freedom 71.2 60.3
Economic freedom ranking 33/197 94/197
Property rights 88.9 43.1
Government integrity 63.4 32
Judicial effectiveness 90.1 13.7
Tax burden 60.6 95
Government spending 44.6 73.7
Fiscal health 82 79.9
Business freedom 83.1 62.5
Labor freedom 54.8 48.4
Monetary freedom 77.7 65.1
Trade freedom 79.4 80.6
Investment freedom 70 70
Financial freedom 60 60

Economic freedom comparison by year

Portugal
Uzbekistan
1x
Year Economic freedom index
Portugal Uzbekistan
2026 71.2 60.3
2025 70.5 58
2024 68.7 55.9
2023 69.5 56.5
2022 70.8 55.7
2021 67.5 58.3
2020 67 57.2
2019 65.3 53.3
2018 63.4 51.5
2017 62.6 52.3
2016 65.1 46
2015 65.3 47
2014 63.5 46.5
2013 63.1 46
2012 63 45.8
2011 64 45.8
2010 64.4 47.5
2009 64.9 50.5
2008 63.9 51.9
2007 64 51.5
2006 62.9 48.7
2005 62.4 45.8
2004 64.9 39.1
2003 64.9 38.3
2002 65.4 38.5
2001 66 38.2
2000 65.5 38.1
1999 65.6 33.8
1998 65 31.5
1997 63.6 -
1996 64.5 -
1995 62.4 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Portugal is 71.2, ranking 33/197, compared to 60.3 for Uzbekistan, ranking 94/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Portugal Uzbekistan
Services, % of GDP
66.3%
2024
45.2%
2024
Industry, % of GDP
18.7%
2024
31.8%
2024
Agriculture, forestry, and fishing, % of GDP
2.02%
2024
18.3%
2024
GNI, Atlas method
$288B
2024
$110B
2024
GNI per capita, PPP
$50,730
2024
$12,000
2024
Total reserves including gold
$42.4B
2024
$41.2B
2024
Total reserves ranking
48/177
2024
50/177
2024
Net foreign direct investment
-$6.64B
2024
-$2.81B
2024
Net inflows of foreign direct investment
$13.5B
2024
$2.99B
2024
Net outflows of foreign direct investment
$6.84B
2024
$36.7M
2024
Servicing debt to the IMF, % of GNI n/a
9.88%
2024
Poverty at national poverty lines
16.4%
2021
8.9%
2024
Gross capital formation, % of GDP
20.4%
2024
33.3%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.