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Profile Index B2B

Portugal


Economy Overview
Portugal
Portugal has become a diversified and increasingly service-based economy since joining the European Community in 1986. Over the past decade, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the European Monetary Union (EMU) in 1998 and began circulating the euro on 1 January 2002 along with 11 other EU member economies. Economic growth had been above the EU average for much of the past decade, but fell back in 2001-04. GDP per capita stands at two-thirds that of the Big Four EU economies. A poor educational system, in particular, has been an obstacle to greater productivity and growth. Portugal has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a target for foreign direct investment. The government faces tough choices in its attempts to boost Portugal's economic competitiveness while keeping the budget deficit within the eurozone's 3%-of-GDP ceiling.

Economy Statistics
Economy Statistics
Exports: $37.68 billion f.o.b. (2004 est.) [?]
Export
Commodities:
clothing and footwear, machinery, chemicals, cork and paper products, hides [?]
Export
Partners:
Spain 25%, France 14%, Germany 13.5%, UK 9.6%, US 6%, Italy 4.3%, Netherlands 4% (2004) [?]
Imports: $52.1 billion f.o.b. (2004 est.) [?]
Import
Commodities:
machinery and transport equipment, chemicals, petroleum, textiles, agricultural products [?]
Import
Partners:
Spain 29.3%, Germany 14.3%, France 9.3%, Italy 6.1%, UK 4.6%, Netherlands 4.6% (2004) [?]

Company Browser

Portuguese Chamber of Commerce and Industry
Address: Rua das Portas de Stº. Antão, 89
1169 - 022 Lisboa
Phone: 351.21.3224050
Fax: 351.21.3224051
Website: http://www.port-chambers.com/



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