Business activity sees ‘significant growth in 2021’

Business activity sees ‘significant growth in 2021’

Business activity in Portugal recorded “significant growth” in 2021, surpassing 2019 levels, with rises of 15.7% in turnover, 15.2% in gross value added and 27.3% in gross operating surplus, Statistics Portugal (INE) reports today as in parliament MPs begin the first round of a two-day debate on the government’s spending plans for 2023. “In 2021, non-financial companies recorded nominal increases of 15.7% in turnover, 15.2% in GVA [gross value added] and 27.3% in GOS [gross operating surplus], after reductions of 10.0%, 9.8% and 17.2% in 2020, respectively, thus surpassing the pre-pandemic values recorded in 2019,” said INE’s provisional data released today. Meanwhile, personnel in service and expenses increased by 2.0% and 9.1%, respectively (-2.0% and -1.7% in 2020, in the same order). “In most economic variables, non-financial companies recorded higher values than in 2019: +4.2% in turnover, +3.9% in GVA, +7.2% in personnel expenses and +5.4% in GOS,” INE highlighted. In turn, service staff stood at the same level as the values recorded in 2019.