Tax burden moved from 33.2% of gdP in 2011 to 32.2% in 2012
In 2012, the tax burden decreased by 5.9%, after the growth observed in 2010 and 2011, which accounted for approximately 32.3% of GDP (33.2% in the previous year). This reduction was associated with decreases in all tax burden's components - direct taxes (a change of -8.3%), indirect taxes (-3.9%) and social contributions (-6.2%).
Regarding direct taxes, there was a decrease of 6.7% in the individual income tax and of 17.4% in the corporate income tax collected by Central Government.
Altogether, indirect taxes were those who had a less significant reduction (a change rate of -3.9%), mainly as a result of the behaviour of the value added tax, with a variation of -1.7% and an increase of 8.3% in revenue from the real estate tax collected by Local Government. The tax on oil and energetic products, the excise duties on tobacco, the stamp duty, the tax on motor vehicle sales and the real estate transfer tax collected by Local Government showed significant decreases in 2012 (respectively -7.3 %, -5.6%, -8.0%, -42.5% and -17.7%).
The actual social contributions decreased 6.2% in 2012, a result that was influenced by the decrease of the employed population in 2012 (change rate of -4.2% for the total employment and -4.9% for employees).
According to available information, in 2011, Portugal continued to register a lower tax burden than the EU average (33.2% compared to 39.1% in the EU27).
17-05-2013 11:00
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The Labour Cost Index decreased by 0.3% from the same quarter in 2012
The Labour Cost Index adjusted for working days decreased by 0.3% in the 1st quarter of 2013, compared with the same period in 2012. This change had been -8.1% in the previous quarter.
The two main labour cost items are wage costs (per hour actually worked) and other costs (non-wage costs, notably employers’ social security contributions, per hour actually worked). Wage costs decreased by 1.3% from the same period a year earlier, while other costs increased by 3.3%.
15-05-2013 11:00
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Tourism accommodation with positive results for the main indicators
Overnight stays in tourism accommodation establishments showed a year-on-year change rate of +14.0% (+0.6% in February), reaching 2.8 million overnight stays in March 2013. This outcome is associated to a calendar effect since Easter was celebrated in March 2013, whereas in 2012 occurred in April.
Also reflecting this effect, in the 1st quarter 2013 the growth in overnight stays stood at 6.0% (+0.3% in the 1st quarter 2012).
Overnight stays from residents grew by 3.0% in March 2013 when compared with the same month of 2012 (coming from a 7.8% decline in February 2013). Overnight stays spent by residents grew by 19.3%, considerably more than the growth recorded in the previous month (+5.0%).
As far as the revenue is concerned, the related increases did not reach those recorded in overnight stays, with +9.5% in total revenue and +11.8% in revenue from the accommodation.
15-05-2013 11:00
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Gross Domestic Product decreased 3.9% in real terms in the 1st quarter 2013
Accordingly with the flash estimate of the Quarterly National Accounts, the Portuguese Gross Domestic Product (GDP), registered a year-on-year change rate of -3.9% in volume in the 1st quarter 2013 (-3.8% in the previous quarter). Domestic demand presented a more negative contribution for the year-on-year change rate of GDP, determined by the more pronounced decline in Investment, particularly in Construction. In the opposite direction, the positive contribution of net external demand increased, mainly due to the more intense reduction of Imports of Goods and Services.
Comparing with the previous quarter, the Portuguese GDP diminished 0.3%.
15-05-2013 10:00
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How are the families in Portugal and what economic risks they are facing
Nowadays, there are more families in Portugal, although of a smaller size, due to the increase in the number of one-person families and the reduction in the number of numerous families, in accordance to the Census 2011 data. People living alone are mostly elder people and women, two groups that the Survey on Income and Living Conditions characterises as being particularly affected by the risk of poverty. Households with dependent children, in particular numerous families and single parent families, are also affected by high at-risk of poverty rates and high relative median at-risk-of-poverty gaps.
In 2011, 3.1% of people living in private households and 8.4% of poor people were not able to afford a meal with meat, chicken or fish every second day. About ¼ of people and almost half of those living in households risking poverty have reported they could not afford to keep their home adequately warm.
42% of people aged 25 to 59 years old in 2010 referred having lived in households with a bad or very bad financial situation while teenagers; 55.7% referred having lived in a household with difficulties to make ends meet.
14-05-2013 11:00
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The CPI 12-month average rate was 1.7% in April
The CPI 12-month average rate of change decreased from 2.0% in March to 1.7% in April. The core inflation index, which excludes unprocessed food and energy, was 0.8% (1.0% in March).
The HICP 12-month average rate decreased from 2.0% in March to 1.8% in April. In March 2013 the gap between the Portuguese and the Euro-area HICP 12-month average rate was -0.3 percentage points (p.p.). In April, the Portuguese HICP 12-month average rate is 0.4 p.p. lower than Eurostat's flash estimate for the whole area .
13-05-2013 11:00
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International Trade of goods - Exports up by 0.3% and imports down by 7.2%
Exports of goods increased by 0.3% and imports decreased by 7.2% in the first quarter 2013, when compared with the first quarter 2012, which led to a EUR 1 074.8 million decrease in the deficit of the trade balance.
In year-on-year terms, in March 2013, exports decreased by 2.8% and imports by 9.8% (in February 2013 those figures were -2.6% and -6.1%, respectively).
Preliminary results for 2012 are disseminated in this press release. Definitive results for 2011 and preliminary for 2012 are disseminated in Portuguese Official Statistics Portal, in the form of statistical indicators, according to the revisions policy applied to International Trade Statistics.
10-05-2013 11:00
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Services Turnover Index presented a less negative year-on-year change rate
The services turnover index, adjusted for calendar and seasonal effects, decreased 8.6% in March in year-on-year terms (change rate of -10.5% in February). In the 1st quarter of 2013 the year-on-year change rate of this index was 8.5% (-9.6% in the previous quarter).
The year-on-year change rates of the indices of employment, wages and salaries and of the number of hours worked, adjusted for calendar effects, were -5.1%, -5.1% and -7.1%, respectively (-6.2%, -2.9% and -8.5% in February, by the same order).
10-05-2013 11:00
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Production in Construction intensifies negative year-on-year change rate
Production in Construction intensifies negative year-on-year change rate
The index of production in construction decreased by -23.7% in the quarter ending in March 2013, in year-on-year terms (3 months moving average, working days and seasonally adjusted), down by 2.3 percentage points from the rate observed in February (-21.4%). Employment, and wages and salaries registered year-on-year change rates of -19.5% and -16.3%, respectively.
10-05-2013 11:00
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Unemployment rate at 17.7%
The unemployment rate estimated for the 1st quarter of 2013 was 17.7%. This value is up 2.8 percentage points from the same quarter of 2012 and 0.8 percentage points from the previous quarter.
There were 952.2 thousand unemployed people, which corresponds to a year-on-year increase of 16.2% and to a quarterly increase of 3.1% (more 132.9 thousand and 29.0 thousand people, respectively).
There were 4 433.2 thousand employed people, which corresponds to a year-on-year decrease of 4.9% and to a quarterly decrease of 2.2% (less 229.3 thousand and 98.6 thousand people, respectively).
09-05-2013 11:00
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Source: Portal do INE - Canal Rss - Notas de Imprensa
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