Sonae Accounted For 3.7% Of Portugal’s GDP In 2022
Sonae, which owns the food retail chain Continente, accounted for 3.7% of the Portuguese gross domestic product (GDP) in 2022, a new study has revealed.
Sonae contributed €8.9 billion to Portugal’s GDP for the year, while its contribution to total national production amounted to €17.8 billion, the study by Nova School of Business & Economics showed.
In terms of employment, the conglomerate emerged as the biggest national private employer in the country, with around 47,000 employees. Its operations generated an additional 212,000 jobs in the economy.
In total, the 259,000 jobs accounted for 4.8% of the total national private employment and 4.2% of employment in Portugal in 2022.
In other words, one in every 23 jobs in Portugal was directly or indirectly linked to Sonae in that period, data showed.
João Günther Amaral, executive director of Sonae, commented, “These results help to quantify the impact of our activity on people’s lives and reveal that Sonae’s good results are positive for the country.
“We are determined to continue to manage and grow responsibly, promoting more and better jobs, fostering innovation in the economy, contributing to regional development, being more inclusive and equitable and respecting the planet’s limits.”
