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.