ECONOMIC AND EMPLOYMENT STRUCTURE

Over the past decades, services have gained an increasing importance in the Portuguese economy, just as they have in the economies of other EU countries. The service sector currently accounts for 59.3% of the Portuguese economy in terms of employment and 73.6% in gross value added (GVA). Agriculture accounts for 11.5% of employment and 2.4% of GVA. Industry, construction, energy and water account for 29.3% of employment and 24% of GVA. The manufacturing industry has undergone significant changes. In a sector that was once highly dependent on traditional industries such as textiles, footwear, ceramics, cork, ship repairs and food and beverages, new industries, including those of automobiles and auto components, electronics and pharmaceutical goods among others, have gained increasing importance. Services have become the most vigorous sector of the economy with distribution, transportation and communications, tourism and financial services showing a strong growth.

Economic Structure - 2008
	Source: Portuguese National Institute of Statistics as published by AICEP
Employment Structure - 2008	Source: Portuguese National Institute of Statistics as published by AICEP

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INTERNATIONAL TRADE

Intra-Union Trade
The balance of trade account with the European Union, from January to December 2008, revealed a covering rate of 62.25%.

Major trading partners
	Analyzing imports from EU countries, Spain, Germany and France show up as major partners. Taken overall, they accounted for 70,1% of the total trade figure for 2008. Source: Portuguese National Institute of Statistics
	Exports went mainly to Spain, Germany, France and the UK, accounting for 77.5% of total exports to EU countries. Source: Portuguese National Institute of Statistics

Trade with non-EU countries
The cover rate on trade with non EU-countries for the January to December 2008 period is 61,5%.

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Major trading partners
	Non-EU imports, from such sources as OPEC, EFTA, US, Japan and Brazil, came to 61.5% overall for non-EU countries. Source: Portuguese National Institute of Statistics
	On the other hand, our main export trading partners outside the EU, were the US, PALOPs (Portuguese-speaking African countries), Asia  and EFTA. Taken as a group, they accounted for 68,3% of the non-EU export total. Source: Portuguese National Institute of Statistics