Portugal 2016

ACTIVIDADE ECONÓMICA EMPRESAS ECONOMIC ACTIVITY ENTERPRISES 71 In turn, the production structure continued to be largely determined by the relative importance of micro, small and medium-sized enterprises (SMEs). Overall, in 2016 the average size of enterprises was similar to that of 2014, i.e. around 3.1 persons employed, not far from the value observed in 2008 (3.2 persons employed). The share of enterprises with less than ten persons employed (microenterprises) in total enterprises was approximately 96.2%, covering around 46.0% of persons employed and 19.3% of turnover (data for 2015, the most recent year for which this information is available). Their relative importance in compensations, turnover and GVA stood at around 20.0%, and its weight in GFCF was around 30.0% of the total. In comparison with 2008 there were increases in the number of enterprises and persons (around 0.6 p.p. and 0.5 p.p. respectively) and declines in compensations, and especially in turnover and GVA (-0.6 p.p., -1.7 p.p. and -2.2 p.p.), but a considerable reinforcement in GFCF (around 4.3 p.p.). Enterprises with less than 50 persons employed (small enterprises and microenterprises) as a whole covered 99.4% of the number of enterprises, corresponding to 65.4% of the number of persons employed, 39.0% of turnover, and 42.8% of GVA. In compensations and GFCF the weights were around 45.0% of the total for each variable. Overall, a comparison of this group of enterprises by size in 2015 and 2008 shows stronger declines in the relative importance than when considering only microenterprises.