Investment in Portuguese exporters in 2017 breaks record

A Portuguese official has said investment in Portuguese exporting industries doubled last year to €1.9 billion (US$2.33 billion), the most on record, Reuters reports.

The news agency quotes the head of the Portuguese state agency for promotion of exports and investment, Luis Castro Henriques, as saying money flowing into industry, services, and technology is giving the Portuguese economy a more diverse range of growth drivers.

The report says investment in technology rose to €325 million last year from €42 million in 2016.

Mr Castro Henriques expects investment in Portuguese exporting industries to keep growing this year, as €2.4 billion worth is in the pipeline, and that the proportion invested by foreigners will increase to 70 percent this year from 55 percent last year, Reuters says.