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

The Portuguese economy advanced 0.5 percent on quarter in the three months to June of 2018, slightly higher than 0.4 percent in the previous period and confirming the preliminary estimates. Household spending was flat while a rise in inventories contributed positively to growth. 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.

Portugal GDP Growth Rate
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Portugal GDP Growth Confirmed at 0.5% in Q2


The Portuguese economy advanced 0.5 percent on quarter in the three months to June of 2018, slightly higher than 0.4 percent in the previous period and confirming the preliminary estimates. Household spending was flat while a rise in inventories contributed positively to growth.

On a quarterly basis, the contribution from domestic demand increased (0.9 percentage points compared to 0.8 percentage points in Q1) while net trade subtracted 0.4 percentage points to growth, the same as in the previous period. Household spending was flat after a 0.8 percent rise in Q1; investment jumped 4.7 percent (1.5 percent in Q1) with inventories contributing 0.6 percentage points to growth (-0.2 percentage points in Q1); exports increased 1.8 percent (0 percent in Q1); and imports went up 2.5 percent (0.9 percent in Q1). 

Year-on-year, the economy grew 2.3 percent, above 2.1 percent in the previous quarter and in line with earlier estimates. The contribution from domestic demand went up, mainly due to higher household (2.6 percent compared to 2.1 percent in Q1) and public spending (0.4 percent compared to 0.3 percent in Q1). The tourism sector continues to boost the economy: spending in national territory (3.4 percent) went up faster than spending by residents (2.6 percent). On the other hand, investment rose at a slower rate (6.4 percent compared to 7.1 percent) due to 6.6 percent drop in investment in material transportation. Net trade weighed down on growth more amid higher imports (7.9 percent compared to 5.6 percent in Q1) while exports rose at a faster pace (6.8 percent compared to 4.7 percent). 

For 2018, the Portuguese government targets growth at 2.3 percent.


INE | Joana Taborda | joana.taborda@tradingeconomics.com
8/31/2018 10:44:56 AM


Recent Releases

Portuguese Economy Grows 0.5% QoQ in Q2
The Portuguese economy grew by 0.5 percent on quarter in the three months to June of 2018, following a 0.4 percent expansion in the previous period, a preliminary estimate showed.
Published on 2018-08-14

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.
Published on 2018-05-30

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



Calendar GMT Actual Previous Consensus TEForecast
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 0.5% 0.4% 0.5% 0.5%
2018-11-14 09:30 AM GDP Growth Rate QoQ Prel 0.5% 0.6%
2018-11-30 11:00 AM GDP Growth Rate QoQ Final 0.5%


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 45639.30 45414.90 45757.80 33671.10 EUR Million [+]
Gross Fixed Capital Formation 8050.90 7927.00 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 816.80 824.00 916.10 775.40 EUR Million [+]
GDP From Construction 1629.70 1637.00 3452.00 1472.40 EUR Million [+]
GDP From Manufacturing 5525.80 5568.30 5637.60 4093.80 EUR Million [+]
GDP From Services 8763.20 8650.40 8763.20 5326.50 EUR Million [+]
GDP From Transport 3172.40 3048.40 3261.20 1865.10 EUR Million [+]
GDP From Utilities 1178.80 1214.00 1315.00 777.80 EUR Million [+]
Gross National Product 50587.13 47369.40 50587.13 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 October of 2018.

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




GDP growth rate by Country
Country Last
Singapore 4.70 Sep/18
Indonesia 4.21 Jun/18
United States 4.20 Jun/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Netherlands 0.80 Jun/18
Canada 0.70 Jun/18
Japan 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Jun/18
Spain 0.60 Jun/18
Germany 0.50 Jun/18
Euro Area 0.40 Jun/18
United Kingdom 0.40 Jun/18
Brazil 0.20 Jun/18
France 0.20 Jun/18
Italy 0.20 Jun/18
Saudi Arabia -0.05 Mar/18
Mexico -0.20 Jun/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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