Economy & Growth in Algarve 26 indicators covering economy & growth for Algarve. IndicatorLatest Year10-yr change Rank Gross domestic product (GDP) and Gross value added (GVA) in volume by 135.8 Index, 2020=100 2024 up 31.6% 5th Gross domestic product (GDP) at current market prices by NUTS 2 region 14,312 Million euro 2024 up 91.1% 327th Average annual population to calculate regional GDP data (thousand) 488.44 Thousand 2024 up 8.6% 640th Gross value added at basic prices by NUTS 3 region 12,446 Current prices, million euro 2024 up 90.5% 660th Gross domestic product (GDP) at current market prices by NUTS 3 region 14,312 Million euro 2024 up 91.1% 650th Economic accounts for agriculture by NUTS 2 region - values at 0.57 Million euro 2024 down 51.3% 280th Economic accounts for agriculture by NUTS 2 region - values at n-1 0.82 Million euro 2024 down 45.3% 144th Income quintile share ratio S80/S20 by NUTS 2 region 4.6 Index 2025 — 96th Economic accounts for agriculture by NUTS 2 region - indices 69.78 Index, n-1 = 100 2024 down 10.9% 79th Agricultural land prices by region 27,401 Euro per hectare 2024 up 194.8% 56th Agricultural land renting prices for one year by region 493 Euro per hectare 2024 up 141.7% 55th Farms and hectares by crops, utilised agricultural area, economic 95,330 Hectare 2023 up 3.4% 226th Irrigation of agricultural holdings by utilised agricultural area 95,330 Hectare 2023 up 3.4% 226th Business demography by size class and NUTS 3 region 66,967 2020 up 14.3% 284th Business demography and high growth enterprise by NACE Rev. 2 and 66,967 2020 up 14.3% 284th Beneficiary of rural development support measures by legal form 95,330 Hectare 2023 up 3.4% 106th Type of other gainful activities directly related to the agricultural 17,680 Annual working unit (AWU) 2023 up 49.8% 32nd Economic accounts for agriculture by NUTS 2 region 1.17 Million euro 2012 down 60.2% 319th Permanent grassland by area under corresponding crop, utilised 25,970 Hectare 2023 up 29.0% 92nd Main farm indicators by rural development support measures, utilized 546.96 million Euro 2023 up 310.1% 83rd Main farm indicators by organic farming, utilised agricultural area 546.96 million Euro 2023 up 310.1% 84th Farm indicators by age and sex of the manager, economic size of the 546.96 million Euro 2023 up 310.1% 84th Farm indicators by legal status of the holding, utilised agricultural 546.96 million Euro 2023 up 310.1% 84th Farm indicators by other gainful activities related to the holder 546.96 million Euro 2023 up 310.1% 84th Organic crops by utilised agricultural area, economic size of the 4,250 Hectare 2023 up 1,316.7% 105th Farmland: number of farms and areas by economic size of farm (ESU) 163,720 Hectare 2007 down 25.1% 88th