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Portuguese exporters of goods gained market share during the pandemic


Economics in a picture: Portuguese exporters of goods gained market share during the pandemic

In the first half of 2021, and compared with the same period of 2019, Portuguese exports of goods (excluding fuels) to the EU grew less than imports from the EU. This evolution reflected a negative specialisation effect, which offset the positive effect associated with gains of share in individual country/product markets. The negative specialisation or structure effect is explained mainly by a higher relative weight in Portuguese exports of country/product markets that performed worse than the average of EU imports. 

The capacity of Portuguese exporters to compete with other suppliers in individual country/product markets strengthened during the pandemic, translating into market shares gains. This market share effect was equivalent to 1,8pp in the period between the first half of 2019 and the first half of 2021. By product, the good performance was broadly based with significant contributions from market-shares gains in machinery and electrical appliances, minerals and base metals and agri-food, beverages and tobacco. By country, the market share gains in Spain and France stand out.  


For more details see Box 3 “Developments in the market share of goods exports during the pandemic“, published in the Economic Bulletin of Banco de Portugal, October 2021.


Prepared by Ana Correia. The analyses, opinions and findings expressed above represent the views of the author and not necessarily those of Banco de Portugal or the Eurosystem.


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