Portugal's Internal Combustion Engine Sector Mixed Growth in 2024
In 2024, the internal combustion engine equipment sector in Portugal experienced a mix of growth and decline. While exports and market value increased, production and imports showed a downturn.
The average export price of internal combustion engine equipment rose to $X per unit in 2024, marking a X% increase from the previous year. Despite this, production stood at $X, indicating a perceptible downturn. Consumption peaked in 2016 at $X, with a steady decline since then.
Exports from Portugal expanded modestly to X units in 2024, up X% from the previous year. However, this was not enough to regain the record highs of X units in 2022. Imports into Portugal, on the other hand, declined to X units, a decrease of X% on the year before.
The Portuguese market for internal combustion engine equipment increased by X% to $X in 2024. The pace of growth in production was most pronounced in 2023, with an increase of X%. In value terms, exports skyrocketed to $X in 2024, showing significant growth over the period.
In 2024, the internal combustion engine equipment sector in Portugal saw a rise in export prices and market value, but also a decline in production and imports. Belgium remained the primary destination for these exports, accounting for a X% share. Despite the mixed trends, the sector continues to play a significant role in Portugal's economy.
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