Tag Archives: Portugal

According to allcountrylist, Portugal is a member of the European Union and has a population of over 10 million people. The country has an open economy and is highly dependent on its service sector, which accounts for around 75% of total GDP. This sector includes financial services, telecommunications, tourism, transportation and retail trade among others. In 2019 the service sector made up around 76% of total employment and contributed heavily to GDP growth with an increase of 2.3%. The industrial sector is the second largest contributor to Portugal’s economic output, accounting for around 21% of GDP in 2019. This sector includes manufacturing such as automotive production, electronics manufacturing as well as food processing and chemicals production among others. In terms of employment this sector makes up around 14% of total employment and has seen growth at a rate of 1.4%. Agriculture is the smallest economic sector but still provides important contributions to the Portuguese economy. This sector accounts for around 3% of total GDP and employs about 6% of the population. Crop cultivation is important for providing food security while animal husbandry provides meat products for domestic consumption as well as export to other countries such as Spain or France. In recent years Portugal has been working towards improving its business environment by introducing reforms such as reducing red tape, improving access to capital markets and encouraging foreign investment into the country through incentives such as tax breaks or free trade zones (FTZ). These measures have helped attract foreign investors which has helped improve infrastructure development projects such as roads or airports which will further help boost economic growth in Portugal over time. The history of agriculture in Portugal dates back to the early Middle Ages when the Roman Empire introduced new crops and farming techniques to the Iberian Peninsula. During this period, the main staples were wheat, barley and legumes, while olives and grapes were also widely cultivated. The introduction of new crops from North Africa such as oranges, figs and almonds further diversified Portuguese agriculture. Livestock farming was also important with pigs, horses, cattle and sheep being raised on farms. During the Age of Exploration in the 15th century, Portugal established trading posts around the world which saw further diversification of local agriculture with New World crops such as maize, potatoes and tomatoes being introduced. This period also saw an increase in wine production with vineyards being planted across the country. In later centuries industrialization led to increased mechanization and specialization of farming which saw a shift away from small-scale subsistence farming towards larger-scale commercial operations. Today, agriculture remains an important sector in Portugal’s economy contributing around 3% of its GDP and employing around 11% of its population. The main crops grown are cereals (wheat, barley), olives (for oil production), grapes (for wine production) as well as maize and potatoes. Other important crops include sugar beet for sugar production and sunflower for oilseed rape production. In recent years there has been an increased focus on sustainable agricultural practices as well as increased investment into research related to improving productivity levels within this sector farmers have been provided with access to improved genetics as well as training on modern farming methods. There has also been a focus on improving access to markets for small-scale farmers so that they can maximize their profits from their produce. See smber for Portugal Agriculture and Fishing.