Although the analysis of the relationship between international trade and economic growth has a longstanding tradition in economic literature, the link between export variety and economic growth remains a relatively unexplored topic of research. Recently, a few studies have approached this matter, adopting a neo-Schumpeterian framework. In line with this general frame of analysis, this article intends to explore the impact of export variety on economic growth, interrelating variety with technological upgrading. Cointegration econometric results based on the Portuguese experience over the past four decades (1967-2010) show that greater related variety has led to a significant boost in growth, but only in the case of technologically advanced sectors. The impact of export variety on economic performance seems, therefore, to be conditioned by the technological intensity of the products involved.