Industrial activity in the Algarve has consolidated itself in recent years as an economic sector experiencing strong expansion, registering growth of 53.6% between 2020 and 2024, according to data from the consultancy Neomarca, which analyzed the accounts of around 700 companies in the region.
According to Neomarca, “in 2024, these companies reached a total turnover of 442 million euros”. Over the last five years, the average annual volume has remained close to 400 million euros, which, according to the consultancy, “reveals a consistent and sustained evolution”.
The appreciation of the industrial sector was reflected not only in increased turnover, but also in profitability and employment. Companies recorded a 225% growth in net results and a 15% increase in the number of jobs, totaling around 5,200 direct jobs.
The Algarve industry is mainly made up of small and medium-sized companies with a strong connection to the territory, technical specialization and focus on innovation. The main branches of activity include the food and beverage industries, the manufacture of metal products and the wood and cork industries.
For the CEO of , Paulo Pereira, “the industry in the Algarve has been consolidating itself as a sector with real weight in the regional economy. This data confirms what we have observed on the ground: companies that are more structured, more ambitious and more prepared to grow based on knowledge, innovation and local value”.
The official also emphasizes that “the industrial business fabric has been able to reinvent itself and respond to challenges with resilience”.
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