Portugal's Gross Domestic Product (GDP) grew by 1,9% in 2024, double the European Union average of 0,8%. Among the factors driving this growth is the growing participation of foreign workers, especially Brazilians. Since most immigrants are of working age, they meet the demand for labor, drive consumption and increase Social Security revenue.
According to economist Eduardo Velho, from Equador Investimentos, for every percentage point that Brazilians contribute to Social Security, the Portuguese GDP grows by 0,23 points in two years. “If Brazilians are contributing more, it is because they are employed and consuming, which boosts retail and the economy,” he explains.
Growing strength
Data from the Ministry of Labor, Solidarity and Social Security indicate that 322.570 Brazilians are formally employed in Portugal, representing 38,7% of foreign workers and almost 7% of the total number of employees in the country. Between 2021 and 2024, these immigrants' contributions to Social Security increased by almost 200%, reaching €1,37 billion (R$8,2 billion) last year.
This growth is expected to continue with the regularization of 400 requests for residence permits by the Agency for Integration, Migration and Asylum (AIMA), half of which are from Brazilians. Without official documentation, many immigrants are unable to formally contribute to the social security system, but they still drive consumption.
Sustaining the economy
The importance of Brazilian immigration in Portugal This is reflected in the increase in Social Security contributions, which rose from 32,8% to 37,6% among foreigners in the last four years. Overall, they rose from 2,28% to 5,31%. “Immigrants are essential for the sustainability of the social security system,” highlights Velho.
Economist José Marques da Silva, from the Portuguese Chamber of Commerce and Industry in Rio de Janeiro, confirms the positive impact of foreigners on the Portuguese economy. He points out that immigrant workers will become even more relevant in the future, especially given the aging of the local population.
“Portugal has one of the highest aging rates in Europe. Many immigrants from the European Union are retired, while Brazilians arrive at working age and contribute effectively to the labor market and to Social Security,” explains Marques da Silva.
Regularization and growth
For him, speed in legalizing immigrants is essential to maximize economic benefits. “With more than 400 pending cases, delays in regularization impact economic activity. An efficient system will ensure greater legal security for workers and better economic forecasts,” he concludes. (With information from Public)
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