Currently the European Union’s 16th largest economy, Portugal has maintained trade relations and diplomatic ties with Sweden since the 17th century. Both are outward-looking economies within the EU committed to openness, innovation, and global free trade.
The previous Business Climate Survey of Swedish companies operating in Portugal was conducted in early 2023. The responses for this edition show improvement over the last two years, both in companies reporting they were profitable (76 per cent) and those indicating the business climate as good or very good (41 per cent).
Swedish businesses have focused on the Portuguese market for sales and investment opportunities in recent years, and there has been a substantial increase in bilateral trade. Portugal has also been experiencing an economic resurgence since the global financial crisis, with growth projections that continue to outpace many of its European peers. The country is a rising key economic player in the region.
The ‘Swedish brand’ is predominantly seen as positive for Portugal, with 71 per cent of respondents identifying it as helping their business to some extent. The survey found that consumers in Portugal most often associate Sweden with fairness, equality, and sustainability. The market mostly sees Sweden as a country with a high quality of life and good governance.
While sustainability has slowly but steadily grown in importance in Portugal, the survey shows a decline in considering environmental aspects in purchasing decisions among the market’s consumers. Meanwhile, the country may be incorporating the UN’s 2030 Agenda for Sustainable Development into national strategies, but it remains in the bottom half of the European Sustainable Development Report (ESDR) ranking.
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ABOUT THE SURVEY
We conducted this Business Climate Survey to gain a deeper understanding of the local business landscape and the opportunities Portugal offers Swedish enterprises. Thirty-seven Swedish companies from a wide range of sectors operating in Portugal participated in the survey and provided critical insights to help Team Sweden compile this report.
We extend our sincere gratitude to all the participants and thank them for their vital help in creating such a complete picture of how Swedish companies perceive the Portuguese market. Team Sweden in Portugal hopes the knowledge and information gathered here will be a valuable resource in guiding efforts to support the Swedish business community in Portugal and further strengthen the already robust trade relations between our two countries.
