The Portuguese economy advanced by 0.3 percent on quarter in the three months to September 2019, slowing from an upwardly revised 0.6 percent expansion in the previous period, a preliminary estimate showed. It was the weakest growth rate since the second quarter of 2016, as net external demand contributed negatively while the contribution of domestic demand was positive. GDP Growth Rate in Portugal averaged 0.42 percent from 1988 until 2019, 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.

GDP Growth Rate in Portugal is expected to be 0.40 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 0.50 in 12 months time. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.40 percent in 2020, according to our econometric models.

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Portugal GDP Growth Rate
Calendar GMT Actual Previous Consensus TEForecast
2019-05-31 10:00 AM GDP Growth Rate QoQ Final Q1 0.5% 0.4% 0.5% 0.5%
2019-08-14 08:30 AM GDP Growth Rate QoQ Prel Q2 0.5% 0.5% 0.4%
2019-08-30 10:00 AM GDP Growth Rate QoQ Final Q2 0.5% 0.5% 0.5%
2019-11-14 09:30 AM GDP Growth Rate QoQ Prel Q3 0.3% 0.6% 0.4%
2019-11-29 11:00 AM GDP Growth Rate QoQ Final Q3 0.6% 0.3%



Portugal Q3 GDP Growth Weakest in Over 3 Years

The Portuguese economy advanced by 0.3 percent on quarter in the three months to September 2019, slowing from an upwardly revised 0.6 percent expansion in the previous period, a preliminary estimate showed. It was the weakest growth rate since the second quarter of 2016.

The contribution of net external demand was positive, higher than in the prior period, while external demand contributed more negatively than in the second quarter. 

Year-on-year, the economy grew 1.9 percent, the same pace as in the previous period. The positive contribution of domestic demand remained unchanged, as private consumption accelerated, while investment advanced at a slower pace. Meantime, net external demand contribution remained negative, with both imports and exports of goods and services accelerating.


INE | Stefanie Moya | stefanie.moya@tradingeconomics.com
11/14/2019 9:53:18 AM



Portugal GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.60 3.30 -2.60 percent [+]
GDP Annual Growth Rate 1.90 1.90 5.00 -4.50 percent [+]
GDP 237.98 219.31 262.01 3.19 USD Billion [+]
GDP Constant Prices 51295.80 50339.30 51295.80 35824.40 EUR Million [+]
Gross Fixed Capital Formation 8687.80 8902.50 11238.90 6328.90 EUR Million [+]
GDP per capita 23737.70 23197.40 23737.70 4506.05 USD [+]
GDP per capita PPP 28687.50 28034.60 28687.50 20166.90 USD [+]
GDP From Agriculture 827.20 829.30 916.10 782.30 EUR Million [+]
GDP From Construction 1753.20 1795.50 3452.00 1493.80 EUR Million [+]
GDP From Manufacturing 5601.40 5611.50 5729.40 4093.80 EUR Million [+]
GDP From Services 8784.10 8784.30 8784.30 5326.50 EUR Million [+]
GDP From Transport 3421.20 3322.10 3421.20 1865.10 EUR Million [+]
GDP From Utilities 1236.80 1239.20 1315.00 777.80 EUR Million [+]
Gross National Product 52460.24 50051.60 52460.24 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 November of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.60 3.30 -2.60 1988 - 2019 percent Quarterly




Country Last Previous
South Africa 3.10 Jun/19 -3.1
Indonesia 3.06 Sep/19 4.2
United States 1.90 Sep/19 2
China 1.50 Sep/19 1.6
Turkey 1.20 Jun/19 1.6
India 1.00 Jun/19 1.3
Canada 0.90 Jun/19 0.1
Singapore 0.60 Sep/19 -2.7
Australia 0.50 Jun/19 0.5
Brazil 0.40 Jun/19 -0.1
Netherlands 0.40 Sep/19 0.4
South Korea 0.40 Sep/19 1
Spain 0.40 Sep/19 0.4
France 0.30 Sep/19 0.3
Switzerland 0.30 Jun/19 0.4
United Kingdom 0.30 Sep/19 -0.2
Euro Area 0.20 Sep/19 0.2
Russia 0.20 Jun/19 0.2
Germany 0.10 Sep/19 -0.2
Italy 0.10 Sep/19 0.1
Japan 0.10 Sep/19 0.4
Mexico 0.10 Sep/19 0
Argentina -0.30 Jun/19 0
Saudi Arabia -1.30 Mar/19 1.07


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