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The Economist ranks Portugal 2nd best-performing economy in the OECD in 2022

The Economist ranks Portugal 2nd best-performing economy in the OECD in 2022 -
The Economist ranks Portugal 2nd best-performing economy in the OECD in 2022 - Portugal Business News

The Economist just ranked Portugal as the 2nd best-performing economy in the OECD in 2022. In an article ranking 2022’s unlikely economic winners, Portugal is a shining example in a period that was especially dark, with inflation reaching 10% year-on-year across the developed world and stock-markets plunging by 20%.

Despite the bleak economic outlook of most developed countries, there are verified asymmetries with Portugal’s economic performance highlighted by The Economist. In order to evaluate differences between countries’ economic data, The Economist compiled statistics on five indicators for 34 developed nations, namely the GDP, inflation, the inflation breadth, stock-market performance and Government debt. Each country was ranked according to its performance for each indicator in order to obtain an overall indicator score. The country score showed unexpected results…

While ushering in 2023, Portugal can look forward to brighter economic prospects based on a solid performance in 2022. Portuguese businesses have registered strong growth and start-ups have done exceptionally well. Lisbon Tech Start-ups are worth EUR 21.4 B in 2022 compared to EUR 816 M in 2016 according to a new report by Dealroom. The combined enterprise value of start-ups founded and headquartered in Lisbon has grown 27 times since 2016. Moreover, the figures for the exports of goods and services have reached historical highs and an increasing number of foreign companies are investing in Portugal. In addition to this, unemployment rates have remained low and there is significant investment in R&D and innovation, as well as major developments in energy transition and in the Green economy.

Statistics for 2022 have revealed Portugal’s exceptional economic performance as well as the outcome of measures implemented by various Government bodies promoting Trade and Investment as well as start-ups that are having strong spill-over effects going towards 2023.


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