Portugal Economy Contracts 1.8 Percent in Q4

The Portuguese Gross Domestic Product registered a year-on-year change rate of -3.8 percent in volume in the 4th quarter 2012 (-3.5 percent in the previous quarter), accordingly with the flash estimate of the Quarterly National Accounts. Comparing with the previous quarter, the Portuguese GDP diminished 1.8 percent.

The positive contribution of the net external demand decreased significantly in the 4th quarter, determined by the less intense decrease of Imports of Goods and Services and by the reduction of Exports of Goods and Services. On the contrary, the domestic demand recorded a less negative contribution for the year-on-year change rate of GDP, mainly reflecting a less expressive reduction of Investment.

In 2012, the Portuguese GDP diminished 3.2 percent in real terms (change rate of -1.6 percent in 2011).

INE | Nuno Fontes | nuno@tradingeconomics.com
2/14/2013 10:15:49 AM