Lidl Portugal’s private label products contributed nearly €1 billion to the country's economy in 2023, a recent study by consultancy firm Forvis Mazars has revealed.
This figure represents approximately one-third of the company's total economic impact on Portugal, according to the study.
Over 50% of Lidl Portugal’s permanent range of private label products originates from Portuguese suppliers, supporting not only the domestic economy but also ensuring quality and freshness of goods.
The study also highlighted the positive impact of Lidl's private label brands on both wealth creation and job creation in Portugal.
For every €1 invested in the supply chain of Lidl's brand partners, €1.84 was generated in the Portuguese economy, data showed.
In terms of job creation, Lidl's private label brands contributed directly, indirectly, and inducedly to create almost 24,000 jobs in Portugal last year. This, combined with Lidl's other operations, resulted in a total of 84,136 jobs.
Other Highlights
Lidl's brands had the most significant impact on the agricultural, food, and fishing sectors in terms of both economic growth and job creation.
Overall, Lidl's economic contribution to Portugal in 2023 amounted to €3.08 billion, in line with the same period last year, representing 1.2% of the national GDP.
Since 2014, Lidl's contribution to Portuguese GDP has steadily increased to reach a total of nearly €23 billion.
Bruno Pereira, purchasing manager at Lidl Portugal, commented, “The results of this study reflect, in addition to the significant contribution of our global activity to the country in 2023, the important impact of our own brands on the national economy.”
Pedro Silva, head of consulting at Forvis Mazars, added, “Lidl has once again demonstrated its importance in Portugal in the creation of wealth [...]. It is worth highlighting the contribution of Lidl's own brand activity, which directly and indirectly was responsible for more than 30% of the results achieved.”
Read More: Lidl Portugal Accounted For 2% Of Food Exports From The Country In 2023
