Wine and metal hit record

Portuguese exports of metal manufactured goods and machinery increased 19.2% in November 2022 on the same month in 20221 to €2.3Bn.

They have also clocked up a like-for-like growth of 16.7% since January according to Metal Portugal (AIMMAP), the association which represents this industrial sector.
“Therefore, after just 11 months, 2022 was the best year ever for Metal Portugal with a like-for-like growth of 16.7% overtaking the previous year which had also been the best year ever, by €1.4Bn”, states the Association of Metallurgic, Metal-mechanics and Related Industries of Portugal Associação dos Industriais Metalúrgicos, Metalomecânicos e Afins de Portugal. (AIMMAP) 
But it wasn’t just metal products that shined in 2022. Portugal’s wine industry too had the best year ever with €50 million of exports.
Although exports of port wine fell 4.9%, the sector overall sold €875.5 million worth of wine overseas between January and November with an accumulated 1.9% on the previous year from January to November.
The wines that sold particularly well were Vinho Verdes, those from the Alentejo, Lisbon, Dão, Madeira and Bairrada. Port wine sales fell 4.9% on 2021 to €295.7 which reflected negatively on the sector as a whole.
Not taking into consideration the performance of port wines, exports grew 2.7% in volume and 5.75% in value, resulting in an increase of almost 3% in average price. The sector has netted just over €50 million more than in 2021.
“We are growing almost 2%, beyond what we had expected at the start of the year. The first quarter was negative, with falls in exports, but the forecast was that we would end the year in growth but not more than 1.5%.
“December went well, so we have high expectations that we will end the year with growth that is beyond what we had expected, which is good news”, says Frederico Falcão, President of ViniPortugal.
Frederico Falcão also highlights the sector’s resilience which managed to recover the falls seen in the first half of the year and “move back to growth,” to numbers close to or exceeding the all-time record of €927.4 million seen in 2021.