Portugal

In-depth country-focused analysis on Portugal's economic, political and operational risk environment, complemented by detailed sector insight

Portugal

Our comprehensive assessment of Portugal's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Portugal, as well as the latest industry developments that could impact Portugal's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Portugal before your competitors.

Country Risk

Portugal Country Risk

Portugal Industry Coverage (4)

Medical Devices

Portugal Medical Devices

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BMI Industry View: The Portuguese medical device market is the second smallest in Western Europe and per capita expenditure is low by regional standards. Most of the market is accountable to the public sector, which has implemented price cuts in order to contain public health expenditure. Market growth is expected to remain subdued, with low prices and lower volume purchases. Small and medium-sized companies have to deal with large debts owed by public hospitals.

Headline Industry Forecasts...

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Pharmaceuticals & Healthcare

Portugal Pharmaceuticals & Healthcare

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BMI View: A modest rise in public and private healthcare expenditure in Portugal in 2015, as well as improving macroeconomic indicators both domestically and in key international trade partners, poses upside risk to Portugal's pharmaceuticals and healthcare sector growth forecasts over a multi-quarter horizon. However, given the government's emphasis on pharmaceuticals spending control, we expect the drug market negative growth to gradually moderate before entering positive territory by the end of our forecast period.

Headline Expenditure Projections

  • Pharmaceuticals: EUR3.25bn (USD4.35bn) in 2014 to EUR3.12bn (USD3.43...

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Renewables

Portugal Renewables

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BMI View:

Growth in the Portuguese renewable energy market continues to be sluggish, with the country's embattled economy weighing on prospects in the power and renewables industries. The wind sector dominates the renewables mix, providing 25% of total generation, with biomass coming in second at 6.6%. We do not expect growth to pick up markedly as investor sentiment remains low and the renewables project pipeline is limited.

Portugal has been pursuing a green energy agenda since 2001, adopting the E4 Programme (Energy Efficiency and Endogenous Energies) in the same year. This set goals for renewable power generation, in line with the wider EU Directive on renewable energy. The target was set at achieving a 39% share of renewable energy sources for gross electricity consumption by 2010, and a 31% share of renewable energy sources for total energy consumption by 2020. However, Portugal...

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Telecommunications

Portugal Telecommunications

BMI View:

BMI View : Operators continue to struggle with the dual pressures of economic weakness limiting subscriber spending and market maturity in the mobile sector. The mobile market, similarly most other Western European markets, is very mature and BMI does not expect much growth. However, acquisitions in both the wireline and the mobile markets with the sales of Portugal Telecom and potential divestment of Cabovisao , will add dynamics to the Portugese telecom sector.

Key Data

  • Wireline voice access is forecast to decline from 4.530mn in 2013 to 4.313mn by 2019 as more consumers switch to mobiles or IP-based substitutes.

  • Market saturation and...

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