Financial Crisis in Portugal Class ： 四國四 A Members ： 4960P009 黃思銜 4960P020 蔡淑倩 4960P051 陳秀玲 4960P069 沈欣樺 4960Z004 余禎紋

Background Portugal officially the Portuguese Republic, is a country located in southwestern Europe on the Iberian Peninsula. Portugal is the westernmost country of Europe,and is bordered by the Atlantic Ocean to the west and south and by Spain to the north and east.

Background In the 15th and 16th centuries, as the result of maritime exploration, Portugal established a global empire that included possessions in Africa, Asia, Oceania and South America, becoming the world's major economic, political and military power.

Background The 1755 Lisbon earthquake, Spanish and French invasions, and Brazilian independence, resulted in both the disruption of political stability and economic growth and the reduction of Portugal's international status as a global power during the 19th century. It is the 13th-most peaceful and the 8th- most globalized country in the world.

History In 1498, Vasco da Gama finally reached India and brought economic prosperity to Portugal and its population of 1.7 million residents Portugal the world´s major economic, military, and political power from the 15th century to the beginning of the 16th century.

History Portugal was twice declared bankrupt - on 14 June 1892, and again on 10 May causing social turmoil, economic disturbances, protests, revolts and criticism of the monarchy. From the 1940s to the 1960s, Portugal was a founding member of NATO, OECD and the European Free Trade Association (EFTA).

History In 1986, Portugal joined the European Economic Community that later became the European Union. The 1998 World Exposition took place in Portugal and in 1999 it was one of the founding countries of the euro and the Eurozone.

Present situation With the a transition towards tertiary sector growth, travel and tourism continues to become extremely important for Portugal, with visitor numbers forecast to increase significantly over the next five years. The insurance sector has performed well, partly reflecting a rapid deepening of the market in Portugal.

Present situation Since the 1990s, Portugal's economic development model has been slowly changing from one based on public consumption to one focused on exports, private investment, and development of the high-tech sector. Business services have overtaken more traditional industries such as textiles, clothing, footwear, cork (of which Portugal is the world's leading producer), wood products and beverages.

Market scale or share Portugal is one of the economic less developed countries of western Europe The mid-70s and early 80s the economic crisis By 1983 the Portuguese external debt has reached 13.6 billion U.S. dollars,the inflation rate of more than 25%,the rate of unemployment is above 10%

Market scale or share , average annual economic growth rate of 4.7%. Since 1991, economic growth rate decreased year by year. Negative growth in 1993,Recovery in 1994.

Market scale or share 1995 and 1996, slow economic growth to achieve an average growth rate to 2.2%. Influenced by events worldwide, by December 2009, unemployment had surpassed the 10% mark nationwide and, by 2010, it was about 11%.

Major Business Agriculture Resources Industry Services Tourism Transportation Foreign trade