Portugal Location : Southwestern Europe, bordering the North Atlantic Ocean, west of Spain
Capital City : Lisbon
Curreny : euro (EUR); Portuguese escudo (PTE) note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries
Languages Spoken : Portuguese
Climate : maritime temperate; cool and rainy in north, warmer and drier in south
National Holiday : Portugal Day, 10 June (1580)
Background Information
Following its heyday as a world power during the 15th and 16th centuries, Portugal lost much of its wealth and status with the destruction of Lisbon in a 1755 earthquake, occupation during the Napoleonic Wars, and the independence in 1822 of Brazil as a colony. A 1910 revolution deposed the monarchy; for most of the next six decades repressive governments ran the country. In 1974, a left-wing military coup installed broad democratic reforms. The following year Portugal granted independence to all of its African colonies. Portugal entered the EC (now the EU)in 1985.
Geographical Note
Azores and Madeira Islands occupy strategic locations along western sea approaches to Strait of Gibraltar
Economy
Portugal has become a diversified and increasingly service-based economy since joining the European Community in 1986. Over the past decade, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the European Monetary Union (EMU) in 1998 and began circulating its new currency, the euro, on 1 January 2002 along with 11 other EU member economies. Economic growth has been above the EU average for much of the past decade, but GDP per capita stands at just 75% of that of the leading EU economies. The government has failed to reign in a widening deficit and to advance structural reforms needed to boost Portugal's economic competitiveness. A poor educational system, in particular, has been an obstacle to greater productivity and growth. Portugal has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a target for foreign direct investment.
Religions
Roman Catholic 94%, Protestant (1995)
Ports : Aveiro, Funchal (Madeira Islands), Horta (Azores), Leixoes, Lisbon, Porto, Ponta Delgada (Azores), Praia da Vitoria (Azores), Setubal, Viana do Castelo
International Disputes - Risks to travellers
: none
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