Mário Centeno: Exports reached 42% of GDP in 2017

The Finance minister revealed that Portuguese exports reached 42% of Gross Domestic Product (GDP) in 2017, an indicator that he considered to be a sign of resilience of the Portuguese economy in comparison to an evolution in the European monetary policy. Mário Centeno gave away this economic datum in the end of a meeting between the Portuguese prime minister António Costa and the head of the International Monetary Fund (IMF), Christine Lagarde, on the World Economic Forum, which takes place in Davos, Switzerland.

When asked about the possibility of having a temporary change in the Euro Area monetary policy, the Eurogroup president and Portuguese Finance minister stated that Portugal “is much more prepared for what is the future of the European monetary and economic policy”. “The country is showing a lot of signs of resilience in several indicators. In 2017, Portugal should have exports reaching 42% of GDP and an historic growth in the market quota”, he stated.

The country is showing a lot of signs of resilience in several indicators. In 2017, Portugal should have exports reaching 42% of GDP and an historic growth in the market quota.

Mário Centeno highlighted that, throughout last year, Portuguese exports “grew much more than the international commerce, which means there is a strong basis for sustainability of the Portuguese economic and financial evolution”. “This will allow Portugal to become better at facing future challenges, including those resultant from the monetary policy”, the Finance minister argued.

On February 9, Statistics Portugal (INE) will reveal their data on international trade of goods concerning last December.