Portugal GDP Growth Rate  1988-2017 | Data | Chart | Calendar | Forecast

The Portuguese economy expanded 1 percent on quarter in the three months to March 2017, following a 0.7 percent growth in the previous period and matching the preliminary estimate. It was the strongest growth rate since the first quarter of 2010, mainly boosted by net external demand while household consumption and fixed investment increased at a slower pace, final figures showed. Year-on-year, the economy advanced 2.8 percent after growing by 2 percent in the previous period. It was the strongest growth rate since the last quarter of 2007. GDP Growth Rate in Portugal averaged 0.40 percent from 1988 until 2017, reaching an all time high of 3.30 percent in the fourth quarter of 1990 and a record low of -2.60 percent in the first quarter of 1991.

Portugal GDP Growth Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-03-01 11:00 AM Q4 0.6% 0.9% 0.6% 0.6%
2017-05-15 10:00 AM Q1 1% 0.7% 0.5%
2017-05-31 10:00 AM Q1 1% 0.7% 1% 1%
2017-08-14 08:30 AM Q2 1% 1.2%
2017-08-31 10:00 AM Q2 1% 1.2%
2017-11-15 09:30 AM Q3 1.1%




Portuguese Q1 GDP Growth Confirmed At 1%


The Portuguese economy expanded 1 percent on quarter in the three months to March 2017, following a 0.7 percent growth in the previous period and matching the preliminary estimate. It was the strongest growth rate since the first quarter of 2010, mainly boosted by net external demand while household consumption and fixed investment increased at a slower pace, final figures showed.

It was the twelfth consecutive period of expansion and the strongest in seven years, mainly boosted by net external demand as exports of goods and services jumped 3.1 percent (2.7 percent in Q4 2016), while imports rose at a slower 1.2 percent (4.8 percent in Q4). 

Also, domestic demand grew 0.2 from the previous period (1.6 percent in Q4), as household consumption advanced 0.8 percent (1.1 percent in Q4), and gross fixed capital formation increased 2.1 percent (5.9 percent in Q4). Investment went up at a slower pace for construction (5 percent from 7.6 percent in Q4) and other machinery and equipment (1.1 percent from 4.3 percent), while contracted for transport equipment (-0.7 percent from 8.5 percent in Q4) and intellectual property products (-3.2 percent from 3.3 percent in Q4). Meanwhile, government spending showed no growth (0.1 percent in Q4).

On the production side, output grew mainly for: Construction (4.7 percent from 6.7 percent in Q4); other service activities (1.2 percent from 0.8 percent in Q4); and financial, insurance and real estate activities (0.7 percent from -0.9 percent in Q4). Meanwhile, trade, accommodation and food service activities showed no growth (1.7 percent in Q4), while output contracted for industry (-0.4 percent from 0.8 percent in Q4); and transportation and storage, information and communication (-1.8 percent from 2 percent in Q4).

Year-on-year, the economy advanced 2.8 percent after growing by 2 percent in the previous period. It was the strongest growth rate since the last quarter of 2007, driven by net exernal demand, as exports rose 9.7 percent (6.6 percent in Q4) and imports advanced at a slower 8 percent (7.7 percent in Q4). Domestic demand grew 2.2 percent (2.5 percent in Q4), as households' spending expanded by 2.2 percent (3 percent in Q4) and fixed investment increased by 8.9 percent (5.2 percent in Q4) while public expenditure contracted 0.4 percent (after showing no growth in Q4).

INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/31/2017 10:43:14 AM



Portugal GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.00 0.70 3.30 -2.60 percent [+]
GDP Annual Growth Rate 2.80 2.00 5.00 -4.50 percent [+]
GDP 204.56 199.08 262.01 3.19 USD Billion [+]
GDP Constant Prices 44315.40 43856.90 45757.90 33671.10 EUR Million [+]
Gross Fixed Capital Formation 7340.00 7188.10 11235.50 6328.90 EUR Million [+]
GDP per capita 22347.03 21967.60 22829.85 4506.05 USD [+]
GDP per capita PPP 27006.87 26548.33 27590.37 20166.93 USD [+]
GDP From Agriculture 805.70 804.50 916.10 782.30 EUR Million [+]
GDP From Construction 1631.80 1558.00 3452.00 1460.30 EUR Million [+]
GDP From Manufacturing 5373.90 5393.00 5587.00 4093.80 EUR Million [+]
GDP From Services 8380.10 8380.00 8380.10 5326.50 EUR Million [+]
GDP From Transport 3006.80 3062.90 3261.20 1865.10 EUR Million [+]
GDP From Utilities 1166.20 1179.30 1315.00 777.80 EUR Million [+]
Gross National Product 45951.05 46514.29 47334.72 28400.00 EUR Million [+]


Portugal GDP Growth Rate Notes

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. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.00 0.70 3.30 -2.60 1988 - 2017 percent Quarterly



gdp growth rate by Country

Last
China 1.70 Jun/17
India 1.50 Mar/17
Turkey 1.40 Mar/17
United States 1.40 Mar/17
South Korea 1.10 Mar/17
Brazil 1.00 Mar/17
Canada 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Euro Area 0.60 Mar/17
Germany 0.60 Mar/17
France 0.50 Mar/17
Italy 0.40 Mar/17
Netherlands 0.40 Mar/17
Australia 0.30 Mar/17
Japan 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.20 Mar/17
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15