Portuguese food and drink exports hit the €5 billion mark in 2018, a 3.1% year-on-year increase and a new record.
Food and beverage sales accounted for 8.66% of Portuguese exports last year, according to data published by the food industry Federation.
Spain took around 25% of Portugal’s food and drink exports, with France second with 9%, followed by Brazil with 6%.
The main products continue to be olive oil, dairy products and wine.
Between 2010-2018, Portuguese food and beverage exports increased by 56%, while imports grew by 32%.
In Portugal, consumers are switching to convenience stores, claims Euromonitor, shopping more often but buying less.
In a highly competitive environment, operators increasingly are looking at innovation as a way to drive demand and differentiate from competitors.
Retailer strategies often are focused on increasing efficiency, developing more convenient locations and trying to make shopping a more interesting experience.