Portugal GDP Growth Rate 1988-2018 | Data | Chart | Calendar | Forecast

The Portuguese economy grew 0.5 percent on quarter in the second quarter of 2018, advancing from a 0.4 percent gain in the previous period, a preliminary estimate showed. Year-on-year, the GDP advanced 2.3 percent, following a 2.1 percent expansion in the previous quarter. GDP Growth Rate in Portugal averaged 0.41 percent from 1988 until 2018, 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.

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Portugal Q1 GDP Growth Confirmed at 0.4%

The Portuguese economy grew by 0.4 percent on quarter in the three months to March 2018, unrevised from the preliminary estimate and following a 0.7 percent expansion in the previous period. Household consumption and fixed investment were the main drivers of growth while net external demand contributed negatively.

Domestic demand grew 0.8 in the first quarter (vs 0.3 percent in Q4), with household consumption jumping 0.8 percent (vs 0.4 percent in Q4) and fixed investment rising 1.8 percent (vs 0.8 percent in Q4). Investment rebounded for both transport equipment (11.6 percent vs -5.7 percent) and other machinery and equipment (4.3 percent vs -3.1 percent) while construction spending was unchanged (vs 4.1 percent in Q4). In addition, changes in inventories contributed positively to the growth. Meanwhile, government spending expansion was flat at 0.1 percent.

Net external demand contributed negatively, as exports of goods and services were unchanged (vs 4.4 percent in Q4), while imports increased 0.6 percent (vs 3.2 percent in Q4).

Year-on-year, the economy grew 2.1 percent in the first quarter, unrevised from the preliminary estimate and following a 2.4 percent expansion in the previous period. Domestic demand advanced 2.5 percent (vs 2.4 percent in Q4), driven by households' spending (2.1 percent vs 2 percent), fixed investment (4.7 percent vs 5.9 percent), and public expenditure (0.3 percent vs 0.2 percent). Net external demand contributed negatively, as exports rose 4.6 percent (vs 7.3 percent in Q4) and imports advanced at a faster 5.4 percent (vs 7.1 percent in Q4).

INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/30/2018 10:30:45 AM

Recent Releases

Portugal GDP Growth Slows to 0.4% in Q1
The Portuguese economy expanded 0.4 percent on quarter in the first three months of 2018, below 0.7 percent in the previous period and market expectations of 0.5 percent. It is the lowest growth rate in three quarters, preliminary estimates showed.
Published on 2018-05-15

Portuguese GDP Growth Remains Strong
The Portuguese economy advanced 0.7 percent on quarter in the last three months of 2017, above an upwardly revised 0.6 percent growth in the previous period in line with the preliminary estimate.
Published on 2018-02-28

Portugal GDP Grows 0.7% in Q4
The Portuguese economy advanced 0.7 percent on quarter in the last three months of 2017, above 0.5 percent in the previous period. It is the fastest growth rate in three quarters, mainly boosted by higher exports, preliminary estimates showed.
Published on 2018-02-14

Portuguese Q3 GDP Growth Confirmed at 0.5%
The Portuguese economy advanced 0.5 percent on quarter in the three months to September 2017, unrevised from the preliminary estimate and following a 0.3 percent expansion in the previous period. Household consumption was the main driver of growth while fixed investment contracted and net external demand contributed negatively.
Published on 2017-11-30

Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-05-15	08:30 AM	GDP Growth Rate QoQ Prel	0.4%	0.7%	0.4%	0.5%
2018-05-30	10:00 AM	GDP Growth Rate QoQ Final	0.4%	0.7%	0.4%	0.4%
2018-08-14	08:30 AM	GDP Growth Rate QoQ Prel	0.5%	0.4%		0.3%
2018-08-31	10:00 AM	GDP Growth Rate QoQ Final		0.4%	0.5%	0.5%
2018-11-14	09:30 AM	GDP Growth Rate QoQ Prel				0.6%
2018-11-30	11:00 AM	GDP Growth Rate QoQ Final

Portugal GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	0.50	0.40	3.30	-2.60	percent	[+]
GDP Annual Growth Rate	2.30	2.10	5.00	-4.50	percent	[+]
GDP	217.57	205.18	262.01	3.19	USD Billion	[+]
GDP Constant Prices	45414.90	45217.70	45757.80	33671.10	EUR Million	[+]
Gross Fixed Capital Formation	7927.00	7784.60	11235.50	6329.20	EUR Million	[+]
GDP per capita	23116.58	22444.07	23116.58	4506.05	USD	[+]
GDP per capita PPP	27936.90	27124.16	27936.90	20166.93	USD	[+]
GDP From Agriculture	824.00	821.90	916.10	775.40	EUR Million	[+]
GDP From Construction	1637.00	1630.30	3452.00	1472.40	EUR Million	[+]
GDP From Manufacturing	5568.30	5637.60	5637.60	4093.80	EUR Million	[+]
GDP From Services	8650.40	8558.80	8650.40	5326.50	EUR Million	[+]
GDP From Transport	3048.40	3130.40	3261.20	1865.10	EUR Million	[+]
GDP From Utilities	1214.00	1200.50	1315.00	777.80	EUR Million	[+]
Gross National Product	47369.40	49023.83	49260.75	28399.81	EUR Million	[+]

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. 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 August of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	0.50	0.40	3.30	-2.60	1988 - 2018	percent	Quarterly

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GDP growth rate by Country

Country	Last		Previous	Highest	Lowest
Indonesia	4.21	Jun/18	-0.41	4.21	-3.57	%	Quarterly
United States	4.10	Jun/18	2.2	16.7	-10	%	Quarterly
Turkey	2.00	Mar/18	1.7	5.6	-5.2	%	Quarterly
India	1.90	Mar/18	1.8	5.4	-1.7	%	Quarterly
China	1.80	Jun/18	1.4	2.4	1.3	%	Quarterly
Australia	1.00	Mar/18	0.5	4.4	-2	%	Quarterly
Russia	0.85	Mar/18	-0.33	4.1	-5.4	%	Quarterly
Netherlands	0.70	Jun/18	0.6	1.7	-3.2	%	Quarterly
South Korea	0.70	Jun/18	1	7.8	-7	%	Quarterly
Spain	0.60	Jun/18	0.7	1.6	-1.6	%	Quarterly
Switzerland	0.60	Mar/18	0.6	2.3	-1.6	%	Quarterly
Germany	0.50	Jun/18	0.4	4	-4.5	%	Quarterly
Japan	0.50	Jun/18	-0.2	3.2	-4.9	%	Quarterly
Brazil	0.40	Mar/18	0.2	3.6	-4.1	%	Quarterly
Euro Area	0.40	Jun/18	0.4	1.3	-2.9	%	Quarterly
United Kingdom	0.40	Jun/18	0.2	5	-2.7	%	Quarterly
Canada	0.30	Mar/18	0.4	3.1	-2.3	%	Quarterly
France	0.20	Jun/18	0.2	7.7	-5	%	Quarterly
Italy	0.20	Jun/18	0.3	6	-2.8	%	Quarterly
Mexico	-0.10	Jun/18	1.1	3.2	-5.7	%	Quarterly