Portugal Economy

The European Union has rendered financial assistance to Portugal in the form of development of funds between 2000 to 2006. The amount provided to Portugal was Euro 22.8 billion. The economy of Portugal is one of the rapidly growing economies in the European Union.
The various activities for which the development of fund was granted to Portugal included constructing light railway tracks, privatizing national airlines, further development of Porto airport, improving on the transportation facilities to bring it at par with the other countries of the European Union.

Facts about Portugal:

Natural resources:
It is reckoned that Portugal has the largest reserve of natural resources comprising cork and timber in Europe. In addition to timber and cork, Portugal also has marble, copper and coal. Portugal Export:
Portugal’s main export goods include cork, footwear, machinery, wood, clothing, equipments for mining. Portuguese wine is one of the prominent export item. Portugal exports goods to countries comprising Germany and Spain in the year 2003.
Portugal Import:
Cars, agriculture raw materials, oil, machinery comprise the main products of import in Portugal. Germany, Spain, Italy, France are the countries from where goods are imported.

64% of the gross domestic product in Portugal is contributed by the service sector. The GDP (PPP) in 2006 was USD$203.1 billion. GDP real growth in 2006 was 1.2%. The gross domestic product per capita(PPP) in 2006 was USD$19,100 billion.

Agriculture sector in Portugal:
Agriculture contributes 6% of the GDP. The main agricultural products are olives, sheep, cattle, goats, grain, potatoes, dairy, poultry, grapes, fish.

Industrial sector in Portugal:
30% of the GDP is contributed by the industrial segment. Industries in Portugal comprise paper, cork, wood pulp, textiles, metal processing, footwear, refining oil, rubber products, products of plastic, chemical, canning fish, ceramics, electronic goods, tourism industry, wine, construction of ships, rail transport machinery, electronic communication appliances, aerospace machinery.

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Last Updated on : 10th March 2015 Next Update : February 2016


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