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Country name:

conventional long form: Portuguese Republic
conventional short form: Portugal
local long form: Republica Portuguesa
local short form: Portugal

 

Capital:

Lisbon. Population: 600,000; 2 million in Greater Lisbon (2008 estimates).

 

Location:

Southwestern Europe, bordering the North Atlantic Ocean, west of Spain

 

Area:

92,345 sq km (35,655 sq miles).
 

Description:
Portugal occupies the southwest part of the Iberian Peninsula and shares borders in the north and the east with Spain, while to the south and west lies the Atlantic Ocean. The country is divided into various provinces, including the Atlantic islands of Madeira and the Azores; the latter lying some 1,220km (760 miles) due west of Lisbon. The Douro, Guadiana and Tejo (Tagus) rivers flow across the border from Spain. North Portugal is mountainous, the highest part being the Serra da Estrela, a popular area for skiing. The vast plains of the Alentejo region stretch south of Lisbon. A range of mountains divides the Alentejo from the Algarve, which runs along the south coast, and is one of the most popular resort areas with wide sandy beaches and attractive bays.
 

 

Population:

10.7 million (2008 estimate).

 

Languages:

Portuguese. English is widely spoken within the business community.
 

Climate:

The northwest has mild winters with high levels of rainfall and fairly short summers. The northeast has longer winters and hot summers. In the south, summers (May to October) are warm with very little rain except in early spring and autumn.

Economy - overview:

Portugal was traditionally an agrarian economy, but since it joined the EU in 1986 its industrial and service sectors have grown considerably by comparison. Agriculture still employs around 10% of the workforce (unusually high by Western European standards) and contributes around 8% of GDP, producing wheat, maize, potatoes, tomatoes, olives, grapes, fish and meat and dairy products.
The manufacturing sector is dominated by the textile and footwear industries and machinery. Other important products are paper, cork and other wood products, electrical appliances, chemicals and ceramics.

Portugal joined the Eurozone upon its inauguration in 1999. Unfortunately, since then, the economy has stagnated - growth averaged 0.7% per year between 2002 and 2006, rising slightly (1.7%) in 2007. Unemployment stood at around 7.7% and inflation fell slightly to 2.4%.

Economy:

Portugal was traditionally an agrarian economy, but since it joined the EU in 1986 its industrial and service sectors have grown considerably by comparison. Agriculture still employs around 10% of the workforce (unusually high by Western European standards) and contributes around 8% of GDP, producing wheat, maize, potatoes, tomatoes, olives, grapes, fish and meat and dairy products.
The manufacturing sector is dominated by the textile and footwear industries and machinery. Other important products are paper, cork and other wood products, electrical appliances, chemicals and ceramics.

Portugal joined the Eurozone upon its inauguration in 1999. Unfortunately, since then, the economy has stagnated - growth averaged 0.7% per year between 2002 and 2006, rising slightly (1.7%) in 2007. Unemployment stood at around 7.7% and inflation fell slightly to 2.4%.

 

Industries:

textiles and footwear; wood pulp, paper, and cork; metalworking; oil refining; chemicals; fish canning; wine; tourism

 

Exports:
Clothing and footwear, machinery, chemicals and cork.

Imports:
Machinery and transport equipment, chemicals, petroleum and textiles.

• Main trade partners: Spain, Germany, France, Italy and The Netherlands.

Exchange rates:

Euro (EUR; symbol €) = 100 cents. Notes are in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2 and 1, and 50, 20, 10, 5, 2 and 1 cents
http://www.worldtravelguide.net/country/227/money/Europe/Portugal.html

 

GDP :
US$230.5 billion (2007).

 

 

Useful links:

  • Trade Fairs
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  Copyright By :  Kish Trade Promotion Center  2002