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Economy of Portugal


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and furniture that includes several manufacturing plants in and around Paços de Ferreira, the core of Portugal's major industrial operations of IKEA). In 2001, the gross agricultural product accounted for 4% of the national GDP.

Traditionally a sea-power, Portugal has had a strong tradition in the Portuguese fishing sector and is one of the countries with the highest fish consumption per capita. The main landing sites in Portugal (including Azores and Madeira), according to total landings in weight by year, are the harbours of Matosinhos, Peniche, Olhão, Sesimbra, Figueira da Foz, Sines, Portimão and Madeira. Portuguese processed fish products are exported through several companies under a number of different brands and registered trademarks like Ramirez, the World’s oldest canned fish producer still in operation, Bom Petisco, Nero, Combate, Comur, General, Líder, Manná, Murtosa, Pescador, Pitéu, Tenório, Torreira, Vasco da Gama, etc.

Portugal is a significant European minerals producer and is ranked among Europe's leading copper producers. It is also a noted producer of tin, tungsten and uranium. However, the country lacks hydrocarbon exploration potential, as well as iron, aluminium and coal deposits, a feature that has hindered its mining and metallurgy sector's development. The Panasqueira and Neves-Corvo mines are among the most noted Portuguese mines in operation.

Secondary sector

Industry is diversified, ranging from automobile (Volkswagen Autoeuropa, Peugeot Citroen), aerospace (Embraer), electronics and textiles, to food, chemicals, cement and wood pulp. Volkswagen Group's AutoEuropa motor vehicle assembly plant in Palmela is among the largest foreign direct investment projects in Portugal.

Modern non-traditional technology-based industries like aerospace, biotechnology and information technology, have been developed in several locations across the country. Alverca, Covilhã, Évora, and Ponte de Sor are
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