Portuguese health exports rose by 17% in the first half to 810 million euros

The figures refer to the manufacture of basic pharmaceutical products, pharmaceutical preparations, radiation and electromedicine equipment and medical and surgical instruments and material.

Portuguese health exports grew in the first half of this year, almost 17%, to 810 million euros, compared to the same period last year, as indicated by the association Health Cluster Portugal this Thursday.

The entity, which cited data from the Portuguese Agency for Investment and Foreign Trade (AICEP), based on the National Statistics Institute (INE), believes that the “pandemic did not affect the growth trend” recorded in Portuguese health exports .

Thus, according to a statement, "health exports are in countercyclical with the Portuguese trade balance", having increased "almost 17%, (16,4%) while the Portuguese trade balance decreased 17,1%".

In total, according to the same note, the sector exported 810 million euros in the first half of 2020, an amount 115 million euros higher than in the same period of 2019.

The figures refer to the manufacture of basic pharmaceutical products, pharmaceutical preparations, radiation and electromedical equipment and medical-surgical instruments and material, according to the organization.

"These data reinforce the weight of the health sector in the national economy and reflect the effort that has been made by the different entities in order to consolidate Portugal's presence in foreign markets", indicated the association, in the same note.

In turn, Salvador de Mello, president of Health Cluster Portugal, believes that this performance demonstrates "the resilience of a sector that has grown in a sustained manner, contributing to the national economy".

"These data, which also reflect the bet that has been made on internationalization, are in line with the competitiveness and internationalization pact for health, signed last year between the Ministry of Economy and Health Cluster Portugal", he said, quoted in communicated.

According to the same note, in Portugal health has “an annual turnover of around 30 billion euros and a gross added value of around nine billion euros, involving close to 90 thousand companies”, employing almost 300 thousand people.

Health Cluster Portugal is a private non-profit association that currently brings together more than 180 members, including research and development institutions, universities, hospitals, civil society organizations, as well as companies in the fields of pharmaceuticals, biotechnology, medical technologies and services.

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