General Information

Capital: Lisbon

Official Language: Portuguese 

Religion: ~85% Christian (80% Catholic)

Government: Unitary semi-presidential constitutional republic

Legislature: Assembly of the Republic

Area: 92,212 km2

Location: On the Mediterranean Basin in Western Europe; On the Iberian peninsula

Population: ~10,352,000

Climate: Mediterranean climate in the south, central interior and Douro river valley; A temperate maritime climate in the mainland highlands and mountains; A semi-arid climate in the far south and a warm desert climate in the Selvagens Islands

• Portugal is one of the warmest countries in Europe

Geography: The north is mountainous while the south has rolling plains

• Portugal is the westernmost country in Europe, located on the Iberian peninsula. 
• It’s bordered to the west and south by the Atlantic Ocean, and to the north and east by Spain
• Portugal has two archipelagos - the Azores and Madeira - which form two autonomous regions with their own regional governments.
• Portugal is home to the world’s largest cork forest. 

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Economics

• GDP: $432 billion (2022 estimate)
• Currency: Euro
• Portugal is a developed country with an advanced economy. 
• Main exports: clothing, footwear, machinery, chemicals, cork
• Main trading partners: Spain, Germany France, UK, Angola
• Portugal is the world’s largest cork producer, with >70% of the cork exports coming from the montados (cork oak forests) of the country.
• The Port of Lisbon is one of Europe’s largest container ports along the Atlantic coast.
• Tourism is a very important part of the Portuguese economy, it is one of the 20 most-visited countries in the world. 
• Since Portugal joined the EU in 1986, it has moved from being a primarily agrarian economy to growing large industrial and service sectors.

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Doing Business

• English is widely spoken in business communities, although smaller family businesses might speak Portuguese exclusively.
• When addressing colleagues, it is customary to use their title and their full name. 
• Portuguese businesses are very hierarchical in structure. All final decisions are made by the head of the company. This can make for some drawn-out decision making. 
• Businesses often take a two hour afternoon lunch, between 1 and 3PM. Also, time is flexible in Portugal - don’t be surprised if colleagues or business partners show up late for meetings or events, but that doesn’t mean you can.
• It’s important to establish a rapport with Portuguese business partners through small talk and getting to know one another personally.
• Portugal is a member of the EU, UN, the Schengen Area and the Council of Europe (CoE).
• As of 2019, Portugal is ranked 39th on the World Bank’s Ease of Doing Business Rankings

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History & Culture

• Portugal is one of the oldest countries in Europe.
• The Phoenicians settled in Lisbon around 1200BC.
• Portugal had one of the longest-lived maritime and commercial empires in the 15th and 16th centuries.
• Brazil was colonized and ruled by Portugal for over 300 years, which is why most people in Brazil speak Portuguese.
• Portuguese is the sixth most-spoken language in the world.
• The Pasteis de Nata, a custard tart, originated in Lisbon. The family who makes them in the Belem district has kept the original recipe a secret since the 19th century. 
• Port Wine is produced exclusively in the Douro Valley, a UNESCO Heritage Site. It is Portugal’s national drink and most famous export. 
• Portugal is home to 17 UNESCO World Heritage Sites. 

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Sources:

Trafalgar.com 17 Fun Facts About Portugal: https://www.trafalgar.com/real-word/fun-facts-about-portugal/ 

https://en.m.wikipedia.org/wiki/Portugal - Portugal - Wikipedia

https://www.amorim.com/en/cork/cork-oak-forest - Amorim: Cork Oak Forest

https://www.worldtravelguide.net/guides/europe/portugal/business-communications/ - World Travel Guide - Portugal

https://www.veem.com/library/how-to-do-business-in-portugal/ - Veem: Doing Business in Portugal

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