The New Strategy for the Portuguese Industry
Portugal’s entry into the European Union in 1985 stimulated the growth of the country’s economy. Real GDP growth was very strong from 1985 to 1990, averaging 4.4% per year, although the recession beginning in the early 1990s has restrained this growth. Part of the reason for this growth is that Portugal has an important industrial history. Industry is and will remain the engine of Portugal’s economic and social development. The country’s strongest industry sectors have been textile and apparel, including hosiery and knitwear, carpets and textiles, clothing, footwear and leather, and yarn and cloth. Other strong sectors are related to the forestry segment, including pulp and paper and other wood products, beverages, and metal and mechanical products.
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