Portugal Government News Headlines

In June, the Services Turnover Index recorded a year-on-year nominal increase of 4.6%, corresponding to an acceleration of 2.8 percentage points (p.p.) compared with the rate observed in the previous month. In real terms, the deflated index decreased by 0.2%, after a reduction by 1.9% recorded in May.

In the 2^nd quarter of 2026, the nominal index rose by 4.1% compared with the same period in 2025, while the deflated index declined by 0,4% (2.2% and -1,2%, respectively, in the previous quarter).

On a month-on-month basis, the nominal index grew by 2.5% (following a 3.3% drop in May).

The indices of employment, wages and salaries and hours worked (adjusted for calendar effects) presented year-on-year changes of 0.3%, 6.3%, and 1.8%, respectively (1.6%, 7.3%, and 0.3% in May).

The Industry Turnover Index, adjusted for seasonal and calendar effects, recorded a nominal year-on-year rate of change of 6.5% in June (6.8% in the previous month). Excluding the Energy grouping, industrial turnover grew 5.1% (3.9% in May). Domestic and non-domestic market indices increased by 9.0% and 2.1%, respectively (8.1% and 4.6% in May). In the second quarter of 2026, the year-on-year rate of change of the industrial turnover was 7.5% (1.4% in the previous quarter), mainly reflecting the acceleration of prices.

In year-on-year terms, employment and hours worked (adjusted for calendar effects) decreased 0.7% and 0.3% in June (variations of -0.1% and -1.3% in the previous month), while wages rose 5.6% (4.6% in May).

In June 2026, construction costs for new residential buildings are estimated to have increased by 7.2% on a year-on-year basis, 0.3 percentage points more than the rate observed in the previous month. The price of materials presented a variation of 6.5% while labor costs rose 8.0%.

In June 2026, exports and imports of goods recorded year-on-year nominal changes of +10.0% and +19.6%, respectively (+5.4% and -1.9%, in the same order, in May 2026). Excluding transactions without transfer of ownership (TTE), i.e., transactions with a view to or following processing, there were increases in both flows: +11.0% in exports and +17.0% in imports (+4.5% and +4.7%, respectively, in May 2026). The trade deficit in goods amounted to EUR 3,632 million, up EUR 1,122 million from June of the previous year. Excluding TTE, the trade deficit amounted to EUR 3,440 million, worsening by EUR 824 million.

In June 2026, the unit value index (prices) of exports continued the upward trajectory observed in the previous months, recording a positive change of 4.9% (+5.9% in May 2026 and -1.5% in June 2025). Imports recorded their third consecutive positive change (+6.1%; +7.9% in May 2026 and -2.1% in June 2025).

In this press release, in addition to the usual monthly figures, the final results for 2025 are released, showing year-on-year changes of +0.1% in exports and +4.5% in imports, and a deterioration of EUR 4,757 million in the trade balance. Compared with the preliminary results released in June, the final annual rates of change were revised by -0.5 p.p. and +0.4 p.p., respectively, following the incorporation of additional information that became available in the meantime.

Due to the identification of an error in the calculation of the household final weights – which are used to extrapolate responses to the entire population of households living in Portugal – the Press Release published on May 28, 2026, is being republished with the necessary corrections, and excluding education from the calibration procedure. The net wealth of households in 2024 is revised downwards (-7% for the mean), but in qualitative terms the conclusions of the press release remain unchanged.

• According to the 2024 Portuguese Household Finance and Consumption Survey (ISFF), mean net wealth and median net wealth increased by around 21% in real terms compared with 2020, to 278.3 thousand euros and 143.3 thousand euros, respectively. This development was largely driven by the increase in the value of real assets (21.1%, on average), in a context of strong growth in house prices.

• In 2024, median net wealth of households in the bottom 20% of the net wealth distribution stood at 1.3 thousand euros, in contrast with 962.1 thousand euros for the top 10%.

• In groups with lower net wealth, such as households where the reference person is unemployed or aged under 35, the proportion of homeowners is lower (around 40%) than for overall households (70.2%).

• In groups with higher net wealth, such as higher-income households and those where the reference person is self-employed or has higher education, other real estate properties (other than the main residence) and self-employment businesses account for a relatively larger share of wealth.

• Financial assets are slightly more concentrated among wealthier households than real assets.

• For most households, the largest share of financial wealth is held in deposits (which include savings and Treasury certificates) (75.4%, for households as a whole), in line with the high-risk aversion reported by households.

• In 2024, 41.7% of households had some type of debt, and among indebted households the median debt value stood at 34.5 thousand euros.

• In 2024, 8% of households faced constraints in access to credit. This share reached around 20% among households with lower net wealth, younger households, or households where the reference person was unemployed.

• Compared with the past, in 2024 the percentage of households with a high level of indebtedness is lower. This more favourable situation reflects the debt reduction, the increase in income and of the asset values.

In the 2nd quarter of 2026, the employed population (5,399.8 thousand people) increased by 1.9% (99.0 thousand) from the previous quarter and by 2.9% (151.5 thousand) from one year before, corresponding to the highest value since the 1st quarter of 2011. 

The share of the employed population who has teleworked, that is who has worked from home using information and communication technologies, was 21.3% (1,152.0 thousand people), 0.2 percentage points (pp) more than in the 1st quarter of 2026 and 0.4 pp more than in the 2nd quarter of 2025, representing the highest proportion since the 3rd quarter of 2023.

The unemployed population, estimated at 300.8 thousand people, decreased by 13.1% (45.5 thousand) from the previous quarter and by 8.7% (28.7 thousand) from a year earlier.

The unemployment rate stood at 5.3%, down 0.8 pp from the previous quarter and down 0.6 pp in the year-on-year comparison, being the lowest value since the beginning of the data series in 2011.

The labour underutilisation covered 525.8 thousand people, decreasing by 10.6% (62.2 thousand) from the previous quarter and by 8.2% (47.3 thousand) from a year before. The labour underutilisation rate (9.1%) decreased by 1.1 p.p. from the previous quarter and by 1.0 pp from the same quarter of 2025. Both indicators reached their lowest value since 2011.

The inactive population aged 16 and over (3,712.1 thousand) has decreased by 0.7% (26.7 thousand) from the previous quarter and by 1.1% (40.9 thousand) from a year earlier.

In 2025, the direct Gross Value Added generated by Tourism (GVAGT) registered the same nominal variation as the national GVA (5.6%), while Tourism Consumption in the Economic Territory (TCET) increased by 4.9%, below the nominal rate of change of the national GDP (5.9%).

GVAGT represented 8.1% of the national GVA in 2025, maintaining its relative importance in the three-year period 2023-2025. TCET was equivalent to 16.1% of GDP, showing a slight decrease compared to the historical maximum registered in 2023 (16.3%).

Applying the Integrated System of Symmetric Input-Output Tables (SIOT) to the main results of the Tourism Satellite Account, it is estimated that tourism activity generated a total contribution (direct and indirect) of 36.2 thousand million euro to GDP in 2025, which corresponds to 11.8% (11.9% in 2023 and 2024). These results reflect a contribution of 0.3 percentage points (p.p.) to real GDP growth in 2025 (1.9%).

In 2023, employment in tourism-characteristic activities, measured in full-time equivalent (FTE), registered a significant growth (10.6%), above that observed in the national economy (3.8%), representing 10.4% of total employment (9.8% in 2022).

Compensation of employees in tourism characteristic activities represented 9.1% of total compensation of employees in the national economy, and the average compensation per worker in these activities corresponded to 92.8% of the national average.

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In June 2026, the tourist accommodation sector recorded 3.1 million guests (+1.0%) and 8.1 million overnight stays (+0.7%). These results accounted for EUR 786.6 million in total revenue and EUR 609.3 million in revenue from accommodation (+4.7% and +4.5%, respectively).

The growth in overnight stays was driven exclusively by the domestic market, albeit at a slower pace. Overnight stays by residents increased by 3.8% (+6.7% in May), reaching 2.5 million. Overnight stays by non-residents decreased by 0.6% (following a 1.1% increase in May), the first decline since September 2025, totalling 5.7 million.

Among the top ten inbound markets, Canada and the United States stood out with the highest growth rates (+4.0% and +2.8%, respectively). In contrast, the French market continued to record the largest decline (-7.9%). 

In the same month, the revenue per available room (RevPAR) stood at EUR 90.5 (+1.0%) and the average daily rate (ADR) reached EUR 140.8 (+2.7%).

Industrial Production year-on-year change rate was -0.7%, in June (-1.6% in May). Excluding the Energy grouping, the variation was -0.6% (0.1% in the previous month). Manufacturing Industry year-on-year rate of change was -1.7% (-0.4% in May). The monthly rate of change of the total index was -3.8% (1.0% in the previous month). 

In the 2nd quarter of 2026, the aggregate index decreased 0.6% in year-on-year terms (in the 1st quarter, this rate of change was 0.3%).

Based on the information available until the date of this press release, the Consumer Price Index (CPI) annual rate is estimated to be 3.0% in July 2026 (3.2% in June). The core inflation index, which excludes energy and unprocessed food products components was 2.6% (2.5% in the previous month). The annual rate of change of the index for energy products decreased to 8.7% (9.1% in June) and the estimated index for unprocessed food presented a rate of change of 3.7% (5.1% in the previous month). 

The CPI monthly rate is estimated to be -0.5% (0.1% in June and -0.4% in July 2025), while the CPI 12-month average rate was estimated to be 2.6% (the same value as in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 3.1% (the same value as in the previous month). 

The July CPI final results will be released on August 12th, 2026.

The trade turnover index recorded a year-on-year increase of 2.7% in June, accelerating by 1.4 percentage points (p.p.) compared with the previous month. Retail trade recorded a year-on-year growth rate of 3.0%, 0.2 p.p. higher than in May. Wholesale trade recorded an increase of 0.5%, following a 0.8% decline in the previous month. Trade, maintenance and repair of motor vehicles accelerated significantly, with the growth rate increasing from 4.4% in May to 9.0% in June.

In the second quarter of 2026, turnover in trade increased by 2.9% year-on-year, accelerating by 0.4 p.p. compared with the previous quarter.

Employment, wages and hours worked adjusted for calendar effects indices recorded year-on-year changes of 0.3%, 7.4% and 2.1% in June, respectively (1.2%, 8.0% and 1.0% in May).

The Consumer confidence indicator increased between May and July, after declining in the previous three months, significantly in March, and registering in April its lowest value since November 2023. This evolution was driven by positive contributions from expectations regarding the future evolution of the country’s economic situation, of households’ financial situation and of major purchases by households. In the opposite direction, opinions on the past evolution of households’ financial situation registered a negative contribution. 

The balance of opinions on past price developments decreased in the last three months, after recording in April the highest rise since May 2008. The balance of expectations on future price developments declined between April and July, following increases in the previous three months, and reaching in March its highest level since March 2022.

The economic climate indicator decreased slightly in July, after having increased in the two previous months. The confidence indicators increased in Construction and Public Works and in Manufacturing Industry, having decreased in Trade and in Services.

The confidence indicator of Construction and Public Works increased in July, after having decreased in the previous month, reflecting the positive contributions of both components: opinions on current order books and perspectives on employment. In the Manufacturing Industry, the indicator also increased in July, albeit only slightly, after having stabilized in the previous month, driven only by the positive contribution of production expectations. Conversely, the Trade confidence indicator decreased in July, after having increased in the previous month, reflecting the negative contributions from assessments of the volume of sales and expectations for activity over the next three months. The confidence indicator of Services also decreased in July, after having increased in the previous two months, reflecting the negative contributions from opinions on the evolution of the order books and the perspectives on the evolution of demand. 

In July, the entrepreneurs’ expectations regarding the future evolution of selling prices decreased in all sectors, namely, Trade,  Manufacturing Industry,  Services and Construction and Public Works.

Gross Domestic Product (GDP), in volume, recorded a year-on-year growth rate of 2.5% in the second quarter of 2026, following an increase of 2.4% growth in the previous quarter. The positive contribution of domestic demand to the year on year growth rate of GDP decreased due to the slowdown of investment, while private consumption accelerated. Net external demand registered a less negative contribution, as exports of goods and services accelerated more intensely than imports of goods and services. 

Compared to the first quarter of 2026, GDP in volume increased by 0.8%, after a rate of change of 0.1% in the previous quarter. The contribution of net external demand to the quarter-on-quarter rate of change of GDP turned positive, as imports of goods and services slowed down more significantly than exports of goods and services. The contribution of domestic demand remained positive, but lower than in the first quarter, with a decrease in investment and an acceleration in private consumption.

May 2026 (definitive estimates):

• The unemployment rate stood at 5.6%, down from April 2026 by 0.1 percentage points (pp), from February of the same year by 0.4 pp and from May of 2025 by 0.6 pp.

• The labour underutilisation rate was estimated at 9.4%, down from the previous month (0.3 pp), from three months before (0.5 pp) and from the same month of a year earlier (1.0 pp).

June 2026 (provisional estimates):

• The unemployment rate stood at 5.6%, the same value as in May, but down from March 2026 (0.3 pp) and from June 2025 (0.4 pp).

• The labour underutilisation rate was estimated at 9.3%, down from the previous month (0.1 pp), from three months before (0.5 pp) and from a year earlier (0.9 pp). This rate was the lowest since 2011, when the data series for this indicator began.

• The unemployment rate of men stood at 4.9%, reaching the lowest value since February 1998.

The flash estimate for International Trade in Goods for the 2nd quarter of 2026 points to an increase in both flows: +10.0% in exports and +8.2% in imports, in nominal terms and compared with the same period last year. Excluding TTE transactions, i.e., with a view to or following processing (without transfer of ownership), growth was more pronounced in both flows (+10.6% in exports and +12.0% imports). 

In the 1st quarter of 2026, there was a 6.5% decrease in exports (+0.9% excluding TTE) and a 2.7% increase in imports (+4.3% when TTE are excluded). Therefore, in the 2nd quarter of 2026, a reversal of the downward trajectory in exports and an acceleration in imports were observed.

In the 1st quarter of 2026, trips taken by residents in Portugal grew by 7.0% (following a 13.2% rise in the 4th quarter of 2025), totaling 5.6 million trips. This development reflects a slowdown in the growth of domestic trips (+3.4%; +12.8% in the 4th quarter of 2025), reaching 4.6 million trips (83.4% of all travel), and an acceleration in the growth of trips abroad (+30.0%; +15.7% in the 4th quarter of 2025) to 923.8 thousand trips (16.6% of the total). 

The main purposes of travel in the 1st quarter of 2026 were “visit to relatives or friends”, which accounted for 2.4 million trips (43.7% of the total, +2.8 p.p. compared to the 1st quarter of 2025), and “leisure, recreation or holidays”, which made up 2.3 million resident trips (41.1%; +0.3 p.p. from the 1st quarter of 2025).

“Hotels and similar establishments” accounted for 30.3% of overnight stays (4.7 million) in residents’ tourist trips in the 1st quarter of 2026, but “free private accommodation” remained the most common type of lodging (58.6% of all overnight stays), with 9.0 million overnight stays spent in residents' trips.

In terms of trip planning, the internet was used in 29.2% of cases (+2.1 p.p.), with this option used in 71.8% of trips abroad (-4.4 p.p.) and 20.7% of domestic trips (+1.4 p.p.).

It should be noted that the monthly results of the quarter might have been influenced by the moving calendar, particularly the effects associated with the Carnival and Easter periods.

Statistics Portugal releases the main results of the Children’s Module carried out in the 4th quarter of 2025 in the context of the National Health Survey (INS). At the methodological level, it integrates the new Estimates of Resident Population (based on administrative data) into the calibration model (see the Technical note).

The results of the children's module of the National Health Survey 2025 indicate that:

- 92.3% of children aged under 15 report their health as good or very good; 88.3% have teeth and gums assessed as good or very good; and 96.8% brush their teeth daily

- 4.0%, or 58 thousand, were blind or had vision problems, and 0.9% (13 thousand) lived with hearing loss

- 10.7% of children aged 6 to 14 have severe difficulties concentrating, remembering or making age-appropriate decisions

- Allergies are the condition that most commonly affects children under the age of 15 (14.9%), with prevalence increasing with age; attention deficit or hyperactivity disorders affect 6.8%, with the prevalence rising to over 9 % from the age of 6; speech and communication disorders affect 5.9% of children, with the highest prevalence among those aged 6 to 9; and 4.6% have asthma, with the prevalence increasing with age

- 18.9% of children have had their ability to perform activities considered usual for their age affected by illnesses or health problems

- 44.7% of children aged 6 to 14 missed school due to illness, an accident or another health problem – of these, the majority missed between 1 and 3 days of school

- 87.3% of children aged under 15 consulted healthcare professionals – of these, 83.0% did so at least once for preventive reasons

- The prevalence of obesity affects 12.9% of children aged 5 to 14 years and 22.6% are overweight

- 68.6% of children aged 6 to 14 eat fruit every day and 68.0% regularly consume animal or plant-based protein, but only 44.4% eat vegetables and salads every day

- 44.7% of children aged 6 to 14 regularly eat fast food or ultra-processed foods, and 46.5% drink sugar-sweetened soft drinks

The median value of bank appraisals on housing reached €2,228 per square meter in June, €20 more than in the previous month (an increase of 0.9%). On a year-on-year basis, the rate of change stood at 16.6% (17.1% in May). It should be noted that the number of bank appraisals decreased 5.5% when compared to the previous period, to around 33.6 thousand, 3.0% more than reported in the same period of the previous year. 

With this press release, Statistics Portugal is launching a new series of statistics on doctors, based on a combination of data from the Labour Force Survey, the Personnel Tables and the Directorate-General for Administration and Public Employment, which makes it possible to obtain estimates on practising doctors that complement the traditional series on doctors registered with the Portuguese Medical Association and ensures comparability with data from the other Member States of the European Union. In 2024, the most recent year for which this information is available, the number of practicing doctors in the country was 46,131, of whom 65% were female and 32.9% were under 35 years of age. Doctors practicing as specialists represented 86.8% of the total, which s the third highest figure in the European Union.

A similar methodological approach is currently being developed for the other categories of practising healthcare professionals. For this reason, the information presented for these categories continues to draw primarily on data from the respective professional associations, which offers the advantage of a more up-to-date reference period. Thus, in 2025, the following were registered:

• in the Portuguese Medical Dentists Association - 12,796 professionally active members, three times the number registered in 2002 (4,134); the ratio of resident dentists per 1,000 inhabitants was 1.12 in 2025, with the highest ratios in the Área Metropolitana do Porto (1.72) and Viseu Dão Lafões (1.57);
• in the Portuguese Nurses Association - 87,843 professionally active members, more than twice as many as in 2002 (41,799); the ratio of professionally active nurses per 1,000 inhabitants was 7.7, reaching 14.4 in the Região de Coimbra;
• in the Portuguese Pharmacists Association - 17,301 professionally active members, which represents more than double the 2002 figure (7,962) and a ratio of professionally active pharmacists per 1,000 inhabitants of 1.5, with regional maximums observed in the Região de Coimbra and Grande Lisboa (2.4 and 2.1, respectively);
• in the Portuguese Psychological Association - 27,838 permanent members or trainees, of which 76.6% were women under 55 years of age and 27.3% held at least one specialty title. Clinical and Health Psychology was the most represented base specialty (65.6% of the specialty titles awarded).

In 2024, the median value of the gross reported income less personal income tax paid per taxable person was 12,316 € in Portugal. 74 municipalities had median income values higher than the national reference. The municipalities with median values above 14,000 € were Oeiras (17,250 €), Lisboa (15,188 €), Alcochete (14,889 €), Cascais (14,524 €), Coimbra (14,388 €), and Vila Franca de Xira (14,004 €).

The median net income per person increased by 7.6% compared to the previous year. This indicator increased in all Portuguese municipalities, and in 237 of them the increase was higher than that of the country. Between 2023 and 2024 there was an increase in the annual rate of change of the median income value in 82% of municipalities (243 out of 298 municipalities with available information). In 220 municipalities, the acceleration in income was greater than or equal to that observed in the country (0.4 percentage points – p.p.). 

In 2024, the Gini coefficient of net income per person was 35.6% in Portugal (more 0.1 p.p. than in 2023). In 29 municipalities, inequality in income distribution was higher than in the country, with the municipalities of Lisboa (42.9%), Vila do Porto (42.3%), Porto (42.0%), and Cascais (40.5%) standing out. Between 2023 and 2024, 147 municipalities showed an increase in the asymmetry of net income per person, with the municipality of Entroncamento registering the highest increase (1.0 p.p.). Conversely, the municipalities of Povoação (-2.3 p.p.) and Mesão Frio (-2.2 p.p.) recorded the largest decreases in this inequality indicator.

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