How Europe’s westernmost nation is reaping benefits of unsettled times
António Costa Silva

Minister hails ‘remarkable’ 2022 growth, with exports near 50% of GDP

Portugal’s minister of economy and maritime affairs, António Costa Silva, has described the country’s economic performance last year as “remarkable” highlighting the fact that exports are now running at almost 50% of gross domestic product. The minister was addressing parliament’s committee of economy, public works, planning and housing, as part of a regular hearing. “In this initial intervention I would like to refer, first of all, to the performance of the economy in 2022, which was remarkable,” he said, recalling that the economy expanded by 6.8%, following growth of 5.5% in 2021. “This growth is the second in the European Union, behind Ireland,” he added.