In a world in retraction, Portugal advances
At a time when uncertainty dominates world economies, it is comforting to see that Portugal continues to defy the odds. The most recent study by GPEARI , the Office of Planning, Strategy, Evaluation and International Relations of the Ministry of Finance, shows something that goes unnoticed in the noise of the usual pessimism: the Portuguese econom
y is resilient. Even in the face of shocks in great power, our exports resist, adjust and quickly return to normality. According to the study, the behavior of the US economy, although gigantic in scale, has little influence on Portuguese exports. An increase of one million euros in the GDP of the United States translates into only 65 additional euros in Portuguese exports, an almost symbolic impact. But the essential reading is elsewhere: when there is a shock in the US, Portuguese exports recover faster than when the same happens in Germany or the United Kingdom. This reveals a fundamental characteristic of our business fabric: agility and sophistication. Portugal has learned to diversify markets and products, betting on goods and services with higher added value. The numbers confirm this. The Bank of Portugal points out that more than 60% of the gain in market share of Portuguese exports in the last decade is precisely due to sectors intensive in technology and knowledge, from pharmaceutical products to computer and telecommunications services.© www.theportugalnews.com/