Overview of Lisbon

Economy of Lisbon

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The currency used in Portugal is Euros.

The Lisbon region is the wealthiest region in Portugal and produces 37% of the Portuguese GDP. Lisbon's economy is based primarily on the tertiary sector. It is fast developing as a dynamic technological hub, an important financial center and home to the country's chief seaport. Lisbon has the largest and most developed mass media sector of Portugal, and is home to several related companies ranging from leading television networks and radio stations to major newspapers. The Euronext Lisbon stock exchange, part of the pan-European Euronext system together with the stock exchanges of Amsterdam, Brussels and Paris, is tied with the New York Stock Exchange since 2007, forming the multinational NYSE Euronext group of stock exchanges.

The two main pillars of Portugal's economy are service and industry. Tourism and business solutions form an increasingly important aspect of the service sector. Major industries include oil refineries, automotive, cement production, pulp and paper industry, textile, footwear, furniture and cork. Manufacturing accounts for 33% of exports. Portugal is the world's fifth-largest producer of tungsten, and the world's eleventh-largest producer of wine. Fisheries and agriculture account for 4% of the country's GDP.

Despite having one of the lowest GDPs in Western Europe, Portugal boasts of ranking 19 in a global study of quality of life beating richer neighbours.


Update 7/09/2009

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