Portugal’s economy stalled in the first quarter of 2026, marking a sharp slowdown from the 0.9% growth recorded in the previous period, particularly driven by extreme weather, including Storm Kristin and heavy rainfall, which damaged infrastructure, agriculture, and buildings, particularly in the Central region, as well as the adverse effects of the Middle East conflict. The slowdown also reflected the fading impact of government measures that had boosted household income in the second half of 2025. Household consumption growth plummeted to 0.1% in Q1 2026 from 0.9%, while government spending rose by 0.3%, down from 0.4%. Net external demand weighed on GDP, as exports grew by 2.1% but imports surged at a faster pace of 5.4%. On a positive note, fixed investment increased by 1.9%, following a 1.2% gain in the previous quarter. The Bank of Portugal warned that rising inflation and tighter financing conditions are likely to constrain consumption and investment throughout 2026. source: Statistics Portugal

The Gross Domestic Product (GDP) in Portugal stagnated 0 percent in the first quarter of 2026 over the previous quarter. GDP Growth Rate in Portugal averaged 0.45 percent from 1988 until 2026, reaching an all time high of 14.30 percent in the third quarter of 2020 and a record low of -15.00 percent in the second quarter of 2020. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2026.

The Gross Domestic Product (GDP) in Portugal stagnated 0 percent in the first quarter of 2026 over the previous quarter. GDP Growth Rate in Portugal is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.40 percent in 2027 and 0.30 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-30 08:30 AM
QoQ Prel
Q1 0% 0.9% 0%
2026-05-29 10:00 AM
QoQ Final
Q1 0% 0.9% 0% 0%
2026-07-30 08:30 AM
QoQ Prel
Q2 0% 0.2%


Related Last Previous Unit Reference
Full Year GDP Growth 1.90 2.20 percent Dec 2025
GDP Growth Rate YoY 2.30 1.90 percent Mar 2026
GDP Constant Prices 62913.50 62883.70 EUR Million Mar 2026
GDP from Agriculture 992.44 1034.57 EUR Million Mar 2026
GDP from Construction 2508.97 2499.75 EUR Million Mar 2026
GDP from Manufacturing 7331.94 7358.62 EUR Million Mar 2026
GDP from Services 9621.68 9610.54 EUR Million Mar 2026
GDP from Transport 5546.25 5355.82 EUR Million Mar 2026
GDP from Utilities 1803.63 1809.19 EUR Million Mar 2026
GDP Growth Rate 0.00 0.90 percent Mar 2026
Gross Fixed Capital Formation 13850.51 13596.63 EUR Million Mar 2026
Gross National Product 80350.30 77258.61 EUR Million Dec 2025


Portugal GDP Growth Rate
On the expenditure side, household consumption is the main component of GDP and accounts for 66 percent of its total use, followed by government expenditure (19 percent) and gross fixed capital formation (15 percent). Exports of goods and services account for 40 percent of GDP and imports account for 40 percent.
Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.90 14.30 -15.00 1988 - 2026 percent Quarterly

News Stream
Portugal’s Economy Stalls in Q1 2026
Portugal’s economy stalled in the first quarter of 2026, marking a sharp slowdown from the 0.9% growth recorded in the previous period, particularly driven by extreme weather, including Storm Kristin and heavy rainfall, which damaged infrastructure, agriculture, and buildings, particularly in the Central region, as well as the adverse effects of the Middle East conflict. The slowdown also reflected the fading impact of government measures that had boosted household income in the second half of 2025. Household consumption growth plummeted to 0.1% in Q1 2026 from 0.9%, while government spending rose by 0.3%, down from 0.4%. Net external demand weighed on GDP, as exports grew by 2.1% but imports surged at a faster pace of 5.4%. On a positive note, fixed investment increased by 1.9%, following a 1.2% gain in the previous quarter. The Bank of Portugal warned that rising inflation and tighter financing conditions are likely to constrain consumption and investment throughout 2026.
2026-05-29
Portugal GDP Stalls in Q1
The Portuguese GDP stalled in the first quarter of 2026, holding the 0.9% expansion from the earlier period, to reflect the strong impact of the war in the Middle East in the Portuguese economy, according to a flash estimate. There was a negative contribution in net external demand, aligned with the surging costs of oil that Portuguese refineries import and supply pressures on European natural gas and petroleum gas. Household consumption was also lower on the squeeze in domestic purchasing power. On the other hand, investment was higher in the period. From the previous year, the GDP expanded by 2.3%.
2026-04-30
Portugal GDP Growth Revised Up in Q4
The Portuguese economy expanded 0.9% on quarter in Q4 2025, the strongest performance in a year, above initial estimates of 0.8% and compared to a downwardly revised 0.6% in Q3. The contribution of net external demand turned positive (+1.1 pp vs -0.9 pp), reflecting declines in both exports and imports of goods and services, with the decrease being more pronounced for imports. On the other hand, the contribution of domestic demand was -0.2 pp (compared with +1.5 pp in the previous quarter), driven by a decline in investment and a slowdown in final consumption expenditure. On an annual basis, the economy grew 1.9% in Q4, slowing from a downwardly revised 2.2% in Q3 but matching initial estimates. For the full year 2025, Portuguese GDP expanded 1.9%, slightly below 2.2% in 2024. Domestic demand supported the growth, driven by faster final consumption, while net external demand weighed more heavily, as exports of goods and services slowed more sharply than imports.
2026-02-27