Portugal's economy shrank by a record 14.1 percent on quarter in the three months to June 2020, following a 3.8 percent contraction in the previous period and entering a recession, a preliminary estimate showed. The coronavirus pandemic hit household consumption and fixed investment as well as external demand, with exports falling more than imports. On a yearly basis, the GDP plunged by 16.5 percent in the second quarter.
GDP Growth Rate in Portugal averaged 0.28 percent from 1988 until 2020, reaching an all time high of 3.30 percent in the fourth quarter of 1990 and a record low of -14.10 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 August of 2020.
GDP Growth Rate in Portugal is expected to be 4.60 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 1.60 in 12 months time. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.70 percent in 2021 and 0.50 percent in 2022, according to our econometric models.