Portugal Frontière

Aperçu économique et sectoriel

Portugal is a high-income EU member state with a GDP of approximately $290 billion in 2025, driven by a diversified services economy in which tourism accounts for roughly 15–16% of GDP, attracting around 29 million foreign visitors annually. The energy sector is significant, with state-linked EDP and its renewables subsidiary EDPR being among the largest publicly listed companies and active participants in the European clean energy transition. The financial sector is anchored by Banco Comercial Portugues (BCP) and Caixa Geral de Depositos (state-owned), while the retail and distribution sector is represented globally by Jeronimo Martins, which operates the Biedronka supermarket chain in Poland. Portugal is the world's largest producer of cork (about 50% of global output) and hosts a sizable pulp and paper industry, with The Navigator Company being a leading European producer of office paper and eucalyptus pulp. Real GDP growth in 2025 reached 1.9%, driven partly by strong net migration that has helped offset a negative natural population balance.

Secteurs clés

📘 Tout savoir sur Portugal →

Macro

PIB nominal, USD	$290.00B
Croissance du PIB réel, annuel	1.9%
Inflation annuel	2.2%
Population habitants	10.8M
PIB par habitant USD	$32,170
Capitalisation boursière total coté, USD	$103.00B
Capitalisation boursière / PIB	35.5%
Chômage	6.0%
Sociétés cotées	48
Bourse	Euronext Lisbon (ELI)

Année des données: 2025. Sources: IMF World Economic Outlook April 2026 (via Wikipedia GDP nominal list) — Portugal 2026 nominal GDP $380.6B, World Economics — Portugal nominal GDP 2025 est. $302B, IMF DataMapper (PRT profile) — GDP growth, inflation, unemployment 2025, European Commission Economic Forecast for Portugal — growth 1.9% 2025, inflation 2.2%, INE Statistics Portugal — population end-2024: 10,749,635, Statista / Euronext — Euronext Lisbon market cap March 2025: ~EUR 85.3B, StockAnalysis.com / Euronext Lisbon (ELI) listings — company tickers and market caps in EUR, DividendMax PSI-20 constituents list — sectors and market caps, ETFdb.com / ETF.com — PGAL expense ratio 0.58%, AUM ~$8M; VGK 0.08%; EZU 0.51%; IEUR 0.09%, GetGoldenVisa.com / GlobalCitizenSolutions.com — Portugal Golden Visa 2026 rules, Interactive Brokers commissions page — ELI access, min EUR 1.25, BrokerChooser / Freenance — broker comparison Portugal 2026, SEC EDGAR — EDP ADR filings confirming EDPFY US OTC listing, Economy of Portugal Wikipedia — key sectors: tourism 15-16% GDP, cork 50% global share, services 65.5% GDP, Banco de Portugal Economic Bulletin June 2025 — macroeconomic context, est. = author estimate where source figures conflict or conversion applied (EUR/USD ~1.08 used for 2025 averages).

Bourse locale & accès

Bourse	Euronext Lisbon
Code	ELI
Site web	www.euronext.com/en/markets/lisbon
Devise	EUR

Accès aux courtiers locaux

International investors can access Euronext Lisbon through global brokers: Interactive Brokers (IBKR) offers direct market access to ELI with a minimum commission of approximately EUR 1.25 per trade and is widely regarded as the most accessible option for foreign retail investors; Saxo Bank provides access to Portuguese equities and options on ELI with a polished platform; DeGiro (EU-based) offers competitive pricing for European retail investors. Locally, Portuguese retail investors most commonly use Millennium BCP's online brokerage, ActivoBank (a Millennium subsidiary), and Banco Carregosa. Foreign nationals can open an account at a Portuguese bank branch or online with IBKR or DeGiro without being a resident, provided they supply a NIF and standard KYC documentation (passport, proof of address, source of funds).

Courtiers internationaux avec accès aux marchés étrangers

• Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
• Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
• Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
• Fidelity International Trading — International stock trading on a number of developed and emerging markets.

Indiqué à titre indicatif uniquement — pas une recommandation. Les marchés disponibles, les frais et les règles d'ouverture de compte varient selon le courtier et votre pays de résidence.

Relocalisation & résidence

Accès pour les investisseurs étrangers

Portugal imposes no general foreign ownership restrictions on publicly listed equities; foreign residents and non-residents alike may freely buy and sell shares on Euronext Lisbon. Foreign investors must obtain a Portuguese Fiscal Identification Number (NIF) before opening a brokerage account. Locally, accounts can be opened at banks such as Millennium BCP, Caixa Geral de Depositos, and Santander Portugal, or through international brokers. Capital gains from listed shares held by non-residents are generally taxed at 28% in Portugal, subject to applicable double taxation treaties. The original Non-Habitual Resident (NHR) tax regime ended in January 2024; its replacement, IFICI (NHR 2.0), effective from 2024, targets qualifying high-value professionals and offers a flat 20% rate on Portuguese-sourced income and exemptions on many categories of foreign-sourced income for 10 years.