Makrognosis

Portugal Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:PT

Model score75 / 1009 Nov 2026
Grade equivalentAmodel-implied
BandInvestment grade0–100 scale, 100 = strongest
Rank29th of 84economies scored

Makrognosis sovereign credit model scores Portugal at 75 out of 100 as of 9 November 2026, equivalent to A on the familiar letter scale — investment grade.

The score is down 0.2 points from 75 on 1 October 2026.

That places Portugal 29th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 92.5% of GDP, a fiscal balance of 0.7% of GDP, a current account balance of 1.2% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Portugal sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 202672.573.073.574.074.575.0Robomacro
Portugal sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202675.0A
1 October 202675.2A
31 July 202675.2A
30 July 202672.7A
26 July 202673.0A
21 June 202674.7A
18 June 202673.6A
Get the Portugal sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/PT"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/PT",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Portugal, from official national and international statistics.

InputValueVintage
GDP per capitaUS$33,0462026
Real GDP growth, 5-year average4.0%2026
Inflation, recent average2.9%2026
Government debt92.5% of GDP2026
Fiscal balance0.7% of GDP2026
Current account balance1.2% of GDP2026
Foreign-exchange reserves3.1 months of imports2026
Net international investment position−49.6% of GDP2026
Governance (World Bank WGI composite)0.8982026

How Portugal compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
24Hong Kong9 Nov 202678
25Spain9 Nov 202678
26Estonia9 Nov 202676
27Italy9 Nov 202676
28Uruguay9 Nov 202675
29Portugal9 Nov 202675
30Poland9 Nov 202673
31Czech Republic9 Nov 202672
32Chile9 Nov 202671
33Israel9 Nov 202669
34Qatar9 Nov 202669
35Taiwan9 Nov 202668

All 84 economies ranked →

Portugal economic indicators

Portugal GDP (Gross Domestic Product)Portugal Gross domestic product, Current prices, million EURPortugal Inflation Rate (CPI)Portugal Core Inflation RatePortugal Unemployment RatePortugal 10-Year Government Bond YieldPortugal Industrial ProductionPortugal Retail SalesPortugal Current account balance (BPM6, vs rest of world), not seasonally adjustedPortugal Current account balance, % of GDPPortugal Trade Balance: Goods & ServicesPortugal Exports of goods and services, Current prices, million EURPortugal Exports of goods and services, chain-linked volumePortugal Exports of goods, total trade (World), seasonally adjustedPortugal Imports of goods and services, Current prices, million EURPortugal Imports of goods and services, chain-linked volume

FAQ

What is Portugal's credit rating?
Makrognosis sovereign credit model scores Portugal at 75/100 as of 9 November 2026, equivalent to A (investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/PT returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.