Insight: Innovative Portuguese exporters boom despite bust at home
Reuters reports that Portuguese export firms are buzzing with activity despite three years of economic crisis at home. In the words of one footwear designer, Luis Onofre, “It’s a one-way trip. If we stop growing exports, we dig our own grave.” During the depths of Portugal’s crisis in 2012, his firm raised its foreign sales by 40 percent to about 11 million euros. In a fight against the crisis, some Portuguese exporters are moving beyond traditional European markets, competing better internationally and moving upmarket to boost their revenue.
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