GDP per capita up just 2.1%

Annual productivity per inhabitant in Portugal, discounting inflation, fell last year to levels not seen since 2015 when the troika was in Portugal, according to the National Statistics Institute. (INE)

GDP per capita in real terms rose by just 2.1% – the lowest rate in the post-troika years – with the exception of 2020 during the pandemic, almost equalling the 2.2% of growth reported eight year previously in 2015.
The average productivity per inhabitant was worth the equivalent of €20,928 annually. In nominal terms, the GDP per capita increased by 9.4% to 325,733, while nominal GDP in 2023 rose by 9.6%.
National GDP per capita in terms of purchasing power was at 83% of the EU average (79% in 2022). At this relative level, Portugal overtook Estonia (81%) and Poland (80%).
Portugal is the 10th worst country in terms of GDP per inhabitant when adjusted for differences in prices within the European Union. Apart from Estonia and Poland, Portugal was in a better position than Romania, Hungary, Croatia, Slovakia, Lithuania, Greece and Bulgaria.
Seventeen countries were in front of Portugal with Luxembourg in the lead at 240% of the European average, Ireland (212%), and the Netherlands (130%), while counties such as Italy (97%), Cyprus (95%), and Spain (89%) also were ahead of Portugal, but by a lesser margin.