Portugal had the 5th highest salary increase in the Eurozone in 2020, higher growth than the average of the countries of the EU (0.9%) and the Eurozone (0.6%).
In 2020, a year marked by the sudden appearance of the Covid-19 pandemic, more than 3 million jobs were lost in the European Union (EU). Wages, on the other hand, increased in most member states. Portugal was, in fact, the 5th country in the Euro Zone where salaries rose most (2.9%). This is a higher growth rate than the EU average (0.9%) and the Eurozone average (0.6%). With this in mind, what is the average salary in Portugal in 2021? Let's have a closer look.
According to a report published in ECO, a Portuguese economic newspaper, which is based on data from the European Commission, more specifically in Brussels' spring forecasts, only in Lithuania (8.2%), Latvia (5.3%), the Netherlands (4.9%) and Slovakia (3.3%) did salaries rise more than in Portugal in 2020. In the opposite direction are Cyprus, France, Belgium, Luxembourg and Finland, countries where salaries fell by 3.2%, 2.7%, 1.8%, 0.7% and 0.1%, respectively.
2021 has also seen the minimum wage in Portugal rise, but what is the average income of Portugal? With this in mind, the average gross salary in Portugal is now around 33,800 euros per year according to the most recent data. This corresponds to an average monthly salary in Portugal of 2,817 euros or 16 euros/hour, however if you are are moving to Portugal to work, it's important to keep in mind that salaries vary drastically depending on your job.