Portugal GDP Growth Rate

The Portuguese economy grew by 0.3 percent on quarter in the three months to September 2018, unrevised from a preliminary estimate and following a 0.6 percent expansion in the previous period. Household consumption and fixed investment were the main drivers of growth while net external demand contributed negatively and government spending was unchanged. 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.

GDP Growth Rate in Portugal is expected to be 0.60 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 0.40 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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Calendar	GMT		Actual	Previous	Consensus	TEForecast
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	0.3%	0.6%		0.6%
2018-11-30	11:00 AM	GDP Growth Rate QoQ Final	0.3%	0.6%	0.3%	0.3%
2019-02-14	09:30 AM	GDP Growth Rate QoQ Prel		0.3%		0.40%
2019-02-28	11:00 AM	GDP Growth Rate QoQ Final		0.3%		0.40%
2019-05-15	08:30 AM	GDP Growth Rate QoQ Prel				0.30%

Portugal Q3 GDP Growth Confirmed at 0.3%

The Portuguese economy grew by 0.3 percent on quarter in the three months to September 2018, unrevised from a preliminary estimate and following a 0.6 percent expansion in the previous period. Household consumption and fixed investment were the main drivers of growth while net external demand contributed negatively and government spending was unchanged.

Domestic demand grew 1.1 in the third quarter (vs 0.6 percent in Q2), with household consumption jumping 0.7 percent (vs 0.1 percent in Q2) and fixed investment rising 0.9 percent (vs 1.7 percent in Q2). Investment in other machinery and equipment and armament systems grew at a softer 0.8 percent (vs 5.1 percent in Q2) and that in construction shrank 0.3 percent (vs unchanged in Q2), while spending rose faster on both transport equipment (6.4 percent vs 1.9 percent) and intellectual property products (1.4 percent vs 0.6 percent). Government spending was flat in the third quarter, following a 0.3 percent expansion in the previous period.

Net external demand contributed negatively to GDP growth, as exports of goods and services dropped 3.6 percent (vs 2.3 percent in Q2) and imports decreased at a slower 1.9 percent (vs 2.3 percent in Q2).

Year-on-year, the economy grew 2.1 percent in the third quarter, unrevised from a preliminary estimate and following a 2.4 percent expansion in the previous period. Domestic demand advanced 2.4 percent (vs 2.7 percent in Q2), driven by households' spending (2.3 percent vs 2.7 percent), fixed investment (4.5 percent vs 4.1 percent), and public expenditure (0.7 percent vs 0.9 percent). Net external demand contributed negatively, as exports rose 3.1 percent (vs 7.1 percent in Q2) and imports advanced at a faster 3.5 percent (vs 7.5 percent in Q2).

INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/30/2018 11:30:19 AM

Recent Releases

Portugal GDP Growth Lowest in Over 2 Years
The Portuguese economy advanced by 0.3 percent on quarter in the three months to September of 2018, following an upwardly revised 0.6 percent expansion in the previous period, a preliminary estimate showed. It was the lowest growth rate since the second quarter of 2016.
Published on 2018-11-14

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.
Published on 2018-08-31

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	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	0.30	0.60	3.30	-2.60	percent	[+]
GDP Annual Growth Rate	2.10	2.40	5.00	-4.50	percent	[+]
GDP	217.57	205.18	262.01	3.19	USD Billion	[+]
GDP Constant Prices	46017.00	45864.20	46017.00	33671.10	EUR Million	[+]
Gross Fixed Capital Formation	8154.00	8085.10	11235.50	6328.80	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	823.90	831.40	916.10	782.30	EUR Million	[+]
GDP From Construction	1610.30	1654.00	3452.00	1493.80	EUR Million	[+]
GDP From Manufacturing	5643.50	5589.00	5729.40	4093.80	EUR Million	[+]
GDP From Services	8585.40	8592.20	8592.20	5326.50	EUR Million	[+]
GDP From Transport	3332.30	3287.70	3332.30	1865.10	EUR Million	[+]
GDP From Utilities	1231.60	1206.70	1315.00	777.80	EUR Million	[+]
Gross National Product	50587.13	48110.22	50587.13	28399.81	EUR Million	[+]

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 December of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	0.30	0.60	3.30	-2.60	1988 - 2018	percent	Quarterly

Export Data API

Country	Last		Previous	Range
United States	3.50	Sep/18	4.2	16.7 : -10	%
Indonesia	3.09	Sep/18	4.21	4.21 : -3.57	%
Singapore	3.00	Sep/18	1.2	36.6 : -13.5	%
South Africa	2.20	Sep/18	-0.4	7.6 : -6.1	%
India	1.90	Jun/18	2	5.4 : -1.7	%
China	1.60	Sep/18	1.7	2.4 : 1.4	%
Russia	0.90	Jun/18	0.4	4.1 : -5.4	%
Brazil	0.80	Sep/18	0.2	3.9 : -3.9	%
Mexico	0.80	Sep/18	-0.1	3.2 : -5.7	%
South Korea	0.60	Sep/18	0.6	7.8 : -7	%
Spain	0.60	Sep/18	0.6	1.6 : -1.6	%
United Kingdom	0.60	Sep/18	0.4	5 : -2.7	%
Canada	0.50	Sep/18	0.7	3.1 : -2.3	%
France	0.40	Sep/18	0.2	8 : -5.3	%
Australia	0.30	Sep/18	0.9	4.4 : -2	%
Euro Area	0.20	Sep/18	0.4	1.3 : -3	%
Netherlands	0.20	Sep/18	0.7	1.7 : -3.6	%
Saudi Arabia	-0.05	Mar/18	0.05	8.5 : -2.1	%
Italy	-0.10	Sep/18	0.2	6 : -2.8	%
Germany	-0.20	Sep/18	0.5	4 : -4.5	%
Switzerland	-0.20	Sep/18	0.7	2.4 : -1.9	%
Japan	-0.60	Sep/18	0.7	3.2 : -4.9	%
Turkey	-1.10	Sep/18	0.6	5.6 : -5.2	%
Argentina	-4.00	Jun/18	0.7	5 : -5.7	%