US quadrupled direct investment in Portugal in 2023

US companies invested €2.1Bn in Portugal in 2023 becoming Portugal’s sixth biggest investor behind China with property representing around one-fifth of all new investments.

The latest data from the Bank of Portugal was based on accumulated FDI stock from the US which increased from €8.2Bn to €10.3Bn in 2023. This means that taking into consideration the past year, €2.1Bn was invested by the US in 2022, meaning US FDI saw a record increase of 305%.
In absolute terms, the United States was the country that most invested in Portugal in 2023 and, compared to 2022, only China invested more in Portugal in 2023 than 2022. (98%).
The United Kingdom and Brazil which were also in the top 10 countries which most invested in Portugal, also showed less interest in Portugal. In the case of Brazil FDI fell 84% while in the UK FDI fell 647%.
In the case of the United States, the largest quarterly increase was seen at the end of the year, with accumulated ‘stock’ increasing to €8.4Bn to €10.3Bn in the fourth quarter.
According to Portugal’s overseas investment agency AICEP, the two countries have been working closely “on many investment processes” with the Americans investing in industry, technology and skills centres, and communication areas.
The countries that most invested in Portugal in 2023 were: 1) Portugal €27.100,94Bn 2) Spain €25.969,34Bn 3) France €17.379,62Bn 4) UK €13.893,99Bn, 5) China €12.368,96Bn, 6) USA €10.325,16Bn, 7) Germany €8.772,23Bn. 8) The Netherlands €8.757,18Bn. 9) Luxembourg €6.406,06Bn, and 10) Brazil €5.267,19Bn.

Image: Paul Tayson (Unsplash)