On May 15, 2025, at FLAD, the General Assembly of the American Chamber of Commerce in Portugal was held, where, among other matters, the Report and Accounts for the 2024 fiscal year were unanimously approved, and the members of the Governing Bodies and the Board of Directors of AmCham were elected for the 2025-2027 term.

Message from the President

Dear Members,

The year 2024 was marked by the strengthening of economic relations between the U.S. and Portugal.

The U.S. consolidated its position as the fourth-largest export market for Portugal, with €5.318 billion in goods (+1.5%) and €5.924 billion in services (+18.8%). Meanwhile, the stock of foreign direct investment (FDI) with the U.S. as the ultimate counterparty reached €11.273 billion (+7.5%), and the number of American visitors to Portugal increased by 11.8% to 2.3 million.

Conversely, imports from the U.S. (€2.415 billion in goods and €1.615 billion in services) accounted for 36% of the total export value, and Portuguese investments in the U.S. increased by 21.5% in stock value.

Regarding the Chamber’s financial situation, a net result of €16,335 was achieved, with total assets of €206,520 and available funds of €172,222 at the end of the year, ensuring a sufficient reserve to cover fixed costs for another year of operations.

Revenues, excluding interest, amounted to €347,563 (a 13.2% increase), with 58.9% derived from membership fees—of which 60% came from Patron Members—and 41.1% from events.

Regarding activities focused on member services and the strengthening of transatlantic relations, notable achievements include:

• A 5% increase in total membership, reaching 240 by the end of the period, as well as an 11% increase in Patron Members, now totaling 41.
• The organization of 26 events throughout the year, including key gatherings such as the AmCham Tributes Gala Dinner, Transatlantic Business Summit, and AmCham Gala Dinner in Porto. Many of these events resulted from the efforts and initiatives of the Chamber’s nine Specialized Committees, led by their respective Presidents and teams.
• The publication of five position papers and reports on transatlantic relations.

Internally, the Chamber strengthened its team to meet new demands in member services.

Externally, AmCham reinforced its connection with the network of AmChams in Europe, culminating in the first-ever meeting of these organizations in Portugal.

At the end of the year, following the U.S. Presidential and Legislative elections in November, a reflection emerged within the business world—on both sides of the Atlantic—regarding the impact of new geopolitical and economic-financial models. This prompted necessary adjustments and revisions in business strategies, particularly in relation to markets, products, partnerships, supply chains, and investment criteria.

A final word of thanks:

To our long-standing partners: the U.S. Embassy, and particularly Ambassador Randi Charno Levine; FLAD, with special recognition for Presidents Rita Faden and Nuno Morais Sarmento. Their support and collaboration have been instrumental in the development of AmCham’s activities and in strengthening ties between Portugal and the U.S.

To all our members, for their support and participation—especially Patron Members, those represented on the Board and Specialized Committees, and those serving in other governing bodies such as the General Assembly and Audit Committee.

To the entire internal team, whose dedication ensures the Chamber’s smooth operation, led by the Secretary-General, for their excellent work.

António Martins da Costa

See below the complete Management and Financial Report:

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