The Algarve Regional Coordination and Development Commission () released this Sunday edition no. 13 of the “Números em Destaque” bulletin, dedicated to international trade in goods in the region. Although the Algarve is traditionally known for its service exports, particularly in the tourism sector, the report reveals important data on goods exports, which totaled 292.7 million euros in 2023, a drop of 13.6% compared to the previous year. previous year.
Regional exports are mainly destined for the European Union, representing 88% of the total, with Spain standing out as the largest market, receiving 38% of goods. The majority of exported goods (68%) are primary products, that is, unprocessed goods.
Among the most exported products are:
- Products from the plant kingdom, such as fruits (mainly citrus fruits), which totaled 107.5 million euros (36.7% of exports).
- Fishing and aquaculture products, such as fish, crustaceans and molluscs, which reached 33.7 million euros (11.5%).
- Live animals and products from the animal kingdom, with almost 14% of the total exported.
Other relevant goods include machinery, electrical appliances and transport materials, which together represent a significant portion of exports.
Technology and economic impact
High-technology goods correspond to 5.2% of exports, a value in line with the national average. Despite this, the region’s export intensity remains small, representing just 0.38% of national exports and 2.2% of regional GDP.
To encourage the internationalization of companies, the Algarve Operational Program 2014-2020 financed 157 projects, totaling an investment of 22.5 million euros, with a FEDER contribution of 12.5 million. In the future, the Algarve 2030 Regional Program foresees financing of 32 million euros to support the qualification and export of regional companies.
Economic diversification, through the expansion of exports of goods, is an essential step to strengthen the regional economy and reduce dependence on the tourism sector.
For more information, see the full bulletin on the CCDR Algarve portal.
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