Agência para o Investimento e Comércio Externo de Portugal


Net Foreign Direct Investment (FDI) in Portugal reached 2 billion euros in the year's first half. The main source markets were Germany, the Netherlands, the United Kingdom and Belgium, all with more than 249 million in investment.

In 2023 (January to June), the total net change in Foreign Direct Investment flows in Portugal was 2.002 billion euros, representing a reduction of 2.659 billion euros (-57.0 per cent) compared to the first half of 2022.


Germany was the leading investor with 404 million euros, followed by the Netherlands (308 million), the United Kingdom (287 million) and Belgium (249 million). FDI from France (-263 million euros), Spain (-218 million euros) and Denmark (-157 million euros) all recorded net losses.


Manufacturing is the main sector receiving FDI, with 336 million, followed by Construction, with 317 million euros. The Wholesale and retail trade and repair of motor vehicles and motorbikes sector recorded negative net FDI (-242 million euros).


At the end of June 2023, the FDI stock stood at 173,858 million euros, an increase of 3.8 per cent compared to June 2022. The European Union held 76.3 per cent of Portugal's FDI stock.


By immediate investor countries, the Netherlands accounted for 20.5 per cent of the total FDI stock, Spain 20.0 per cent, Luxembourg 16.8 per cent and France 7.5 per cent, while the leading non-EU country in terms of FDI stock was the United Kingdom, with 6.9 per cent of the total. 


Of the total FDI stock from the Netherlands, 44.5 per cent originated from Portuguese companies, 24.8 per cent from companies in the Netherlands itself, 7.0 per cent from Angolan companies, 4.2 per cent from US companies and 3.1 per cent from German companies.


Regarding the final investor, i.e., the country where the capital originated, Spain held 14.7 per cent of the total FDI stock, France 9.8 per cent, the UK 7.8 per cent and China 6.8 per cent.