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Portugal economy is based on capitalist economy. With its diverse landscapes and natural endowment the economy of Portugal is highly advantageous. The Portugal economy is well supported by numerous methods. Some of the things that boost the economy of Portugal are agriculture, business and commerce, electronic and IT industry, fisheries and tourism.
The land of Portugal is rich in naturally available resources. The natural resources are pine trees, Cork oak, Holm Oak, Eucalyptus. Cork is a major output of the country and the country of Portugal produces half of the world's cork. The agricultural produce of the land are olives, wheat, vineyards, maize, wine, beet sugar, sunflower oil and tobacco, which have the high export value. The other naturally available commodities of commercial significance are fish and Algrave oranges.
Economy in Portugal is mainly based on industries apart from agriculture. Some of the well known industries in Portugal are oil refineries, cement, automotive and ship industries, electronics and electrical industries, leather, furniture, beverages, ceramics and food industry. Cork industry is considered to be the largest industry in Portugal with huge production. Banks, too, contribute in a big way to the economy of Portugal.
The quick facts about Portugal also says that Portugal economy receives its major source of revenue from the tourism industry. The land of Portugal is a tourist's paradise for its diverse range of landscapes, mountains, virgin beaches with enchanting coves, churches renowned for worship and pilgrims. It attracts huge number tourists from all over the globe for the country's unparalleled beauty. As a direct result of tourism in Portugal, the hotel and travel industry thrive also.
The Government has emphasized the importance of a strong electronic industry and steel industry in the coming years, that provides great revenue in the Portugal economy.
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