Macroeconomic Outlook Report: Portugal
Summary
Financial intermediation, real estate, and business activities contributed 25.9% to the gross value added (GVA) in 2024, followed by wholesale, retail, and hotel activities (19.2%) and mining, manufacturing, and utilities activities (17.0%). In nominal terms, the three sectors are expected to grow by 4.8%, 5.0%, and 4.4%, respectively, in 2025.
Lisbon, Porto, and Algarve together accounted for 57.1% of the country’s total GDP in 2024 and 49.2% of the total population in 2024, according to GlobalData’s Cities database.
Key Highlights
On July 17, 2024, the EU allocated EUR813 million ($883.7 million) under the Connecting Europe Facility to support the early development of Portugal’s Porto-Lisboa high-speed rail line. This project, taken up as a public-private partnership, aligns with the EU’s climate objectives and modernization of the TEN-T transport network.
Scope
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