“This is a structural factor of the Portuguese economy. Unfortunately, the Portuguese economy has always been less advanced than a substantial part of the economies of the European Union [EU] and the eurozone, especially the economies from Central and Northern Europe,” stated Joaquim Miranda Sarmento.
“We continue to be, among the 27, and particularly among the 20 in the eurozone, unfortunately, one of the less advanced economies, but this is historical and structural for many decades,” reiterated Joaquim Miranda Sarmento upon his arrival at the Eurogroup meeting in Brussels.
The minister noted, however, there is “nominal and real wage growth occurring in all areas of activity and for practically all professional profiles.”
Portugal has thus “made progress in convergence, both in economic growth and in wage growth,” he observed.
“Wages are, on average, growing in real terms above 4%, which means that families, in general, […] are experiencing an improvement in their incomes, salaries, purchasing power, and living standards, and this is a path of convergence that the country must follow,” Joaquim Miranda Sarmento added.
The average annual salary of a full-time worker in Portugal was 24,818 euros in 2024, below the EU median of 39,800 euros, making it the tenth country with the lowest value, it was announced today.
Data published today by the EU’s statistical office, Eurostat, indicate that last year the adjusted average annual salary for full-time workers in the EU was 39,800 euros, representing a 5.2% increase from the 37,800 euros recorded in 2023.
In Portugal, this figure was 24,818 euros in 2024, compared to 23,184 in 2023 and 21,131 euros in 2022.
Portugal is thus the 10th country with the lowest average annual salary, surpassed by countries such as Bulgaria (15,387), Greece (17,954), Hungary (18,461), Slovakia (20,287), Romania (21,108), Poland (21,246), Latvia (22,262), Croatia (23,446), and the Czech Republic (23,998).
Among EU countries, the highest adjusted average annual salary for full-time workers was recorded in Luxembourg (83,000 euros), followed by Denmark (71,600 euros) and Ireland (61,100 euros).
