The Portuguese economy expanded 2.9 percent quarter-on-quarter in the three-months to September of 2021, in line with preliminary estimates and slower than a downwardly revised 4.4 percent advance in the previous quarter. Net external demand contributed positively amid an improving pandemic situation in the EU, boosting export growth (9.6 percent vs -2.2 percent), which more than offset the rise in imports (4.4 percent vs -0.4 percent). Meanwhile, domestic demand benefited from the sustained lifting of restrictions but growth eased significantly (1.0 percent vs 4.9 percent), reflecting a trend of moderation in household spending (1.9 percent vs 7.5 percent), as consumption of durable goods contracted (-6.2 percent vs 14.5 percent) and that of non-durables lost momentum (2.8 percent vs 6.8 percent). Finally, gross fixed investment contracted 1.8 percent, after falling 0.5 percent in Q2. On an annual basis, GDP rose 4.2 percent, slowing from a downwardly revised 16.1 percent jump in Q2. source: Statistics Portugal

GDP Growth Rate in Portugal averaged 0.41 percent from 1988 until 2021, reaching an all time high of 14.70 percent in the third quarter of 2020 and a record low of -15.20 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 December of 2021.

GDP Growth Rate in Portugal is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.

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Portugal GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-29 08:30 AM QoQ Prel Q3 2.9% 4.4% 3.6%
2021-11-30 11:00 AM QoQ Final Q3 2.9% 4.4% 2.9%
2022-02-02 09:30 AM QoQ Prel Q4 2.9%


Related Last Previous Unit Reference
GDP Growth Rate 2.90 4.40 percent Sep/21
GDP Annual Growth Rate 4.20 16.10 percent Sep/21
GDP Constant Prices 49814.80 48465.50 EUR Million Sep/21
Gross Fixed Capital Formation 9044.60 9209.10 EUR Million Sep/21
Gross National Product 53604.98 52155.31 EUR Million Sep/21
GDP From Utilities 1583.90 1566.40 EUR Million Sep/21
GDP From Transport 3939.60 3721.30 EUR Million Sep/21
GDP From Services 8066.50 7560.90 EUR Million Sep/21
GDP From Manufacturing 6156.10 6134.80 EUR Million Sep/21
GDP From Construction 1939.70 1982.10 EUR Million Sep/21
GDP From Agriculture 1029.90 1012.90 EUR Million Sep/21

News Stream
Portugal GDP Growth Confirmed at 2.9% in Q3
The Portuguese economy expanded 2.9 percent quarter-on-quarter in the three-months to September of 2021, in line with preliminary estimates and slower than a downwardly revised 4.4 percent advance in the previous quarter. Net external demand contributed positively amid an improving pandemic situation in the EU, boosting export growth (9.6 percent vs -2.2 percent), which more than offset the rise in imports (4.4 percent vs -0.4 percent). Meanwhile, domestic demand benefited from the sustained lifting of restrictions but growth eased significantly (1.0 percent vs 4.9 percent), reflecting a trend of moderation in household spending (1.9 percent vs 7.5 percent), as consumption of durable goods contracted (-6.2 percent vs 14.5 percent) and that of non-durables lost momentum (2.8 percent vs 6.8 percent). Finally, gross fixed investment contracted 1.8 percent, after falling 0.5 percent in Q2. On an annual basis, GDP rose 4.2 percent, slowing from a downwardly revised 16.1 percent jump in Q2.
2021-11-30
Portugal GDP Growth Slows in Q3
Portugal’s GDP rose 2.9 percent quarter-on-quarter in the three-months to September of 2021, slowing from a downwardly revised 4.4 percent contraction in the previous quarter, a preliminary estimate showed. Throughout the summer, the economy stayed on the reopening path as the vaccination drive limited the public health risks of the coronavirus pandemic, which allowed for economic activity to converge to normal levels. From the expenditure perspective, external demand contributed positively after contracting in the June quarter, while domestic showed signs of moderation. Year-on-year, the economy advanced 4.2 percent, following a downwardly revised 16.1 percent record growth in the second quarter.
2021-10-29
Portugal GDP Growth Unrevised at 4.9% in Q2
The Portuguese economy advanced 4.9% on quarter in the three months to June 2021, the same as in the preliminary estimate and recovering from a 3.2% drop in the first quarter when the country was under a coronavirus lockdown. Internal demand contributed 5.4 percentage points to growth and the contribution from external demand was less negative than in the previous period. Year-on-year, the economy expanded at a record 15.5%, following a record 16.4% slump a year earlier. The Portuguese government expects the economy to grow 4% in 2021.
2021-08-31

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.