• GDP: US$230.5 billion (2007).
• Main exports: Clothing and footwear, machinery, chemicals and cork.
• Main imports: Machinery and transport equipment, chemicals, petroleum and textiles.
• Main trade partners: Spain, Germany, France, Italy and The Netherlands.

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%.

Businesspeople are expected to dress smartly and formal attire is expected in some dining rooms and for important social functions. English is widely spoken in business circles, although when visiting a small family business it is best to check in advance. Business cards are generally only exchanged by more senior members of a company. July and August are best avoided as many Portuguese are on holiday.

Office hours: Mon-Fri 0900-1300 and 1500-1900.

Lisbon is the main centre for conventions offering modern high-tech venues that can seat over 3,000 people and unique historic locations ideal for smaller groups, such as St Jorge Castle and the Coach Museum. Lisbon's premier conference halls include Lisbon Exhibition Centre, the Lisbon International Fair, the Belém Cultural Centre and the Atlantic Pavilion. Close to the capital Casino Estoril and Sintra's palaces are also popular venues. The city of Porto is another important congress destination, which boasts two major international exhibition and congress centres: The Porto International Exhibition Centre (Exponor) and the International Congress and Exhibition Centre (Europarque).

Associação Comercial de Lisboa
Câmara de Comércio e Indústria Portuguesa, Rua das Portas de Santo Antão 89, 1169-022 Lisbon, Portugal
Tel: 213 224 050.
Website: www.port-chambers.com

Confederação do Comércio e Serviços de Portugal (CCP)
Avenida Dom Vasco de Gama 29, 1449-032 Lisbon, Portugal
Tel: 213 031 380.
Website: www.ccp.pt

Lisbon Convention Bureau (Information on Conferences/Conventions)
Rua do Arsenal 15, 1100-038 Lisbon, Portugal
Tel: 210 312 700.
Website: www.visitlisboa.com

Porto Convention Bureau (Information on Conferences/Conventions)
Avenida Inferior a Ponte D Luis I 53-1, 4050-074 Porto, Portugal
Tel: 223 326 751.
Website: www.portocvb.com