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% 330th Average annual population to calculate regional GDP data (thousand per 488.44 Thousand 2024 up 8.6% 643rd Gross domestic product (GDP) at current market prices by NUTS 3 region 14,312 Million euro 2024 up 91.1% 653rd Gross value added at basic prices by NUTS 3 region 12,446 Current prices, million euro 2024 up 90.5% 660th Economic accounts for agriculture by NUTS 2 region - values at current 0.57 Million euro 2024 down 51.3% 282nd Income quintile share ratio S80/S20 by NUTS 2 region 4.6 Index 2025 — 96th Economic accounts for agriculture by NUTS 2 region - values at n-1 pri 0.82 Million euro 2024 down 45.3% 145th Economic accounts for agriculture by NUTS 2 region - indices 69.78 Index, n-1 = 100 2024 down 10.9% 80th Agricultural land prices by region 27,401 Euro per hectare 2024 up 194.8% 58th Agricultural land renting prices for one year by region 493 Euro per hectare 2024 up 141.7% 55th Irrigation of agricultural holdings by utilised agricultural area, eco 95,330 Hectare 2023 up 3.4% 227th Farms and hectares by crops, utilised agricultural area, economic size 95,330 Hectare 2023 up 3.4% 227th Business demography by size class and NUTS 3 region 66,967 2020 up 14.3% 282nd Business demography and high growth enterprise by NACE Rev. 2 and NUTS 66,967 2020 up 14.3% 282nd Economic accounts for agriculture by NUTS 2 region 1.17 Million euro 2012 down 60.2% 321st Beneficiary of rural development support measures by legal form, econo 95,330 Hectare 2023 up 3.4% 108th Type of other gainful activities directly related to the agricultural 17,680 Annual working unit (AWU) 2023 up 49.8% 33rd Permanent grassland by area under corresponding crop, utilised agricul 25,970 Hectare 2023 up 29.0% 93rd Main farm indicators by rural development support measures, utilized a 546.96 million Euro 2023 up 310.1% 83rd Main farm indicators by organic farming, utilised agricultural area, e 546.96 million Euro 2023 up 310.1% 84th Farm indicators by age and sex of the manager, economic size of the fa 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, uti 546.96 million Euro 2023 up 310.1% 85th Organic crops by utilised agricultural area, economic size of the farm 4,250 Hectare 2023 up 1,316.7% 106th Farmland: number of farms and areas by economic size of farm (ESU) and 163,720 Hectare 2007 down 25.1% 89th