Markets were completely liberalized, an extensive privatisation
program was initiated, restructuring became widespread, and much-needed
infrastructure was put in place with generous support from various EU
funds. As a result, Portuguese industry was put on a much sounder
footing to face tough global competition.
In perspective, in the 15 years of EU membership (1986-2000) real GDP
growth averaged 3.6% per annum in Portugal compared with 2.5% for the EU
as a whole. As economic growth accelerated, investment boomed, inflation
was tamed, employment opportunities opened up, and new markets were
conquered. Portugal today, with a GDP that reached $106 billion in 2000
(at prevailing exchange rates), is the 14th largest economy in the EU
(if measured in purchasing power parities) and the 34th in the world.
Portugal ranks 40th as a world exporter of merchandise, with products
ranging from traditional Port wines and textiles to auto parts and
computer chips. It also ranks among the world’s top 20 global tourism
destinations.
Portugal welcomes foreign investment as an instrument of change.
Further economic and investment information is available from www.portugal.org
