Portugal's economic growth was revised lower to 0.2 percent on quarter in October-December 2020, from an early estimate of 0.4 percent and well below the previous three-month period expansion of 13.3 percent. Portugal imposed a night-time curfew and partial weekend lockdown in early November, aiming to curb a surge in coronavirus infections. Household consumption dropped 0.5 percent (vs 12.7 percent in Q3) and fixed investment declined 0.2 percent (vs 9.7 percent in Q3), while government spending grew 1.1 percent (vs 7.7 percent). Meanwhile, the contribution of external demand was approximately nil. Year-on-year, the economy shrank 6.1 percent, worse than a flash estimate of a 5.4 percent decrease. Considering 2020 full year, the economy plunged 7.6 percent, its steepest economic contraction since 1936. source: Statistics Portugal
GDP Growth Rate in Portugal averaged 0.38 percent from 1988 until 2020, reaching an all time high of 13.30 percent in the third quarter of 2020 and a record low of -13.90 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 March of 2021.
GDP Growth Rate in Portugal is expected to be -2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Portugal to stand at 1.00 in 12 months time. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.60 percent in 2022 and 0.50 percent in 2023, according to our econometric models.