New report highlights Portugal's 'Blue Economy' growth

That is nominal growth of 68.7% in seven years.

The sector's share of national gross value added rose from 3.7% to 4.3% over the same period. It now supports more than 180,000 jobs.

The Blue Economy covers a wide range of activity, from fisheries and aquaculture to ports, transport and logistics, shipbuilding and ship repair, maritime equipment and services, and coastal tourism. Newer, more technology-intensive segments linked to the sea are also developing.

The growth was not a straight line. Gross value added reached €7.2 billion, or 4.0% of the national total, in 2018, before the pandemic cut it to €5.9 billion, or 3.3%, in 2020.

The recovery since has been strong. Gross value added rose by 74.3% between 2020 and 2023, faster than the economy as a whole.

Employment followed a similar path. The number of workers increased from 162,500 in 2020 to 182,500 in 2022.

Exports linked to the sector reached €5.9 billion in 2025, according to the latest figures from AICEP, Portugal's trade and investment agency. The recent rebound has been driven in part by coastal tourism and by the growth of emerging segments.

Looking ahead, the focus is on consolidating that growth and building the sector's international presence. The energy transition, digitalisation, technological innovation and the sustainable use of marine resources are all identified as areas of opportunity.

Paul Stannard, chairman and founder of Portugal Pathways and the Portugal Investment Owners Club, said: "The ocean economy is much broader than tourism. These figures point to a wide base of activity, from ports and shipbuilding to aquaculture, and it is a part of Portugal's economy that many international investors and families have not looked at closely."

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