The country's external debt per capita is $46,795.

It's national debt is 83.2% of GDP.

The Portuguese economy had grown by more than the EU average for much of the 1990s, but fell back in 2001-08, and contracted 2.6% in 2009, before growing 1% in 2010.

The Portuguese Financial crisis is a major political crisis and economic crisis currently taking place in Portugal, which started during the first weeks of 2010.

Portugal's low competitiveness, low growth prospects, and high levels of public debt have made it vulnerable to EU.

The government is implementing austerity measures, including a 5% public salary cut which went into effect on January 1, 2011 and a 2% increase in the value-added tax, to reduce the budget deficit from 9.3% of GDP in 2009 to 4.6% in 2011.

In April 2011, Portugal confirmed that it will have a financial bailout from the IMF and the European Union worth 80bn Euros ($115 £70bn), following Greece and the Republic of Ireland.