Ministry Of Commerce: Portuguese Manufacturing Exporters Worry About The Future

Portugal's "cash daily" reported on June 12 that Portugal's top manufacturing export, and the metal industry's exports increased by 5.8% in the first four months of this year to 7.278 billion euros. The textile and garment industry is also growing at double-digit rates, with overseas sales approaching 2.082 billion euros, up 18% over the same period in 2021. In the first four months of this year, the export volume of the footwear industry increased by 21%, and the export volume increased by 28% to 138 million euro. Although Portugal's manufacturing exports have generally increased, especially in markets outside the EU, exporters are concerned that the war in Ukraine, inflation, lack of raw materials and shortage of personnel will affect overseas sales in the coming months. The imbalance in the supply of raw materials, coupled with concerns about the war, requires enterprises to have higher reserves of raw materials. And energy and raw material prices are also eroding corporate profits. In addition, the population problem in Portugal, the domestic proposal to reduce working hours, and the inability to attract immigrants on an ideal scale have also brought about a shortage of human resources for enterprises.

(source: website of the Ministry of Commerce)