Portuguese Food Exports Set New Record
Portuguese food and beverage exports reached €5.0 billion in 2018, rising by 3.1% year-on-year and setting a new record high.
Overall, food and beverage sales accounted for 8.66% of Portuguese exports last year, according to data published by the Federation of Portuguese Agro-Food Industries (FIPA).
Spain once again stood out among the main export market, representing around 25% of the industry's sales abroad. France was second with 9%, followed by Brazil with 6%.
The main product categories continue to be olive oil, dairy products and wine.
Over the period 2010-2018, Portuguese food and beverage exports increased by 56%, while imports grew by 32%.
Elsewhere, a study by Informa DB revealed that the wholesale sector in Portugal achieved a turnover of €1.3 billion in 2018, up 3.3% compared to 2017.
The performance continued the positive trend of revenue growth recorded in the two previous years (+4% in 2017 and +4.7% in 2016). This, in turn, resulted in an increase in market value for the sector of €140 million between 2015 and 2018.
The latest available data from 2017 show that there were 9,063 companies involved in the wholesale sector in Portugal that year.
The focus on convenience stores has become a major trend in Portugal, claims Euromonitor International. Consumers are now more rational with their purchases, shopping more often but buying less.
In a highly competitive environment, operators are increasingly focusing on innovation as a way to drive demand and differentiate from competitors. Retailer strategies are often focused on increasing efficiency, developing more convenient solutions for consumers and improving the overall shopping experience.
The Portuguese economy is expected to grow at a slower pace than over the past five years, due to a weaker increase in private consumption.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.