The Portuguese economy is heavily dependent on international trade, with exports representing about 50.7% of GDP in the first quarter of 2023.
Exporting is one of the most important stages in the growth of any company, and it is through this valorisation of the national offer that Portugal is strengthening its position in the international markets.
Today’s publication gives an overview of Portugal’s exports in recent months.
- Textile and Clothing Exports Fall Again
In line with world trade in textiles and clothing, Portuguese exports of these products fell by almost 20% in volume and 17% in value compared to the previous year.
The most significant losses are reflected in the following:
- Knitwear (-20% in value, -24% in quantity).
- Home textiles and other made-up textiles (-25% in value and -21% in quantity).
The main markets in decline are:
- Spain, United States, Italy, France, Germany, United Kingdom.
- Drop in Exports in the North of the Country
Exports fell by around 0.6% in the second quarter compared with the same period a year earlier, in line with the domestic market, which fell by around 4.8%.
- Forestry Exports Break Record
For the second year in a row, forestry exports reached an all-time high of €7.1 billion in 2022.
Paper and paper pulp were the products that contributed most to these results, with international sales of 3.8 billion – 54% of the total.
- Portugal is the Largest Exporter of Bicycles in the European Union
2022 was the best year ever in terms of bicycle exports to Portugal. The sector’s turnover was more than 382 million euros. This represents an increase of 11.9% compared to the same period last year.
The main destination markets are: Germany, France and Spain.
Only in the first half of this year, the sector has already invoiced more than €383 million. This represents an increase of 11.9% compared to the same period last year.
- 3,000+ Companies Exported for the First Time in 2022
In 2022, the number of enterprises exporting goods reached 22,940, an increase of 1.9% compared to 2021.
Of these, 3,000 were exporting for the first time and their main markets were Spain, UK and France.
- 77.3% exported up to 1 million euros;
- 20.7% between 1 million and 25 million euros;
- 1.9% exported more than 25 million.
The product groups with the highest number of exporting enterprises were:
- Machinery and Equipment: 8,036 companies;
- Common Metals: 6,797 companies;
- Plastics and Rubber: 6,364 companies.
Sources:
Construir. (2023). Almost 30,000 companies exported in 2022. Consulted on September 26, 2023, at: https://www.construir.pt/2023/09/25/quase-30-mil-empresas-exportaram-em-2022
ECO. (2023). Forestry exports reach a record 7.1 billion in 2022. Consulted on September 26, 2023, at: https://eco.sapo.pt/2023/09/04/exportacoes-florestais-atingem-recorde-de-7-100-milhoes-em-2022/?utm_source=brevo&utm_campaign=PEmpresarial%20670-23%20%20Amnistia%20Lei%20%20claramente%20abusiva&utm_medium=email
Journal T. (2023). Textile and Clothing Exports Down in July. Consulted on September 26, 2023, at: https://jornal-t.pt/noticia/exportacoes-texteis-e-vestuario-em-quebra-no-mes-de-julho/
Journal T. (2023). North with fewer exports in the second quarter of the year. Consulted on September 26, 2023, at: https://jornal-t.pt/noticia/norte-com-menos-exportacoes-no-segundo-trimestre-do-ano/
Porto Canal. (2023). Bicycle sector breaks records: Portugal is the largest exporter in the European Union. Consulted on September 26, 2023, at: https://portocanal.sapo.pt/noticia/337012
