In a report which was made public in May 2023, the IMF reviewed its 2023 GDP growth predictions for Portugal at 2.6%. This is just after it had predicted a growth rate of 1% in April (in itself, a leap from the projections made in October 2022 which set growth at 0.7%). According to public sources, these predictions are based on an analysis of the countrys economic performance in 2022 and the first quarter of 2023.
These economic results are driven by the staggering increase in exports in the services sector (with the tourism sector at the helm). Again, according to publicly available data, in March, exports in the service sector had risen 31%, whilst imports only 14%. Goods exports on the other hand rose by 19%, with the imports growing…
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