Portugal's gross domestic product advanced 11.9 percent from a year earlier in the first quarter of 2022, following a revised 11.9 percent increase in the previous period. Domestic demand was a key driver of growth, reflecting the more intense private consumption growth. The positive contribution of net external demand increased as imports slowed down while exports accelerated, reflecting the rebound in tourism activities. In the first quarter of 2022, the loss in terms of trade was more intense than in the three previous quarters, as the deflator of Imports increased markedly. source: Statistics Portugal

GDP Annual Growth Rate in Portugal averaged 1.33 percent from 1996 until 2022, reaching an all time high of 16.50 percent in the second quarter of 2021 and a record low of -17.90 percent in the second quarter of 2020. This page provides - Portugal GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.

GDP Annual Growth Rate in Portugal is expected to be 5.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal GDP Annual Growth Rate is projected to trend around 3.00 percent in 2023 and 2.00 percent in 2024, according to our econometric models.

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Portugal GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-02-28 11:00 AM YoY Final Q4 5.8% 4.4% 5.8%
2022-04-29 08:30 AM YoY Prel Q1 11.9% 5.9% 4.9%
2022-05-31 10:00 AM YoY Final Q1 5.8% 11.9%


Related Last Previous Unit Reference
GDP Growth Rate 2.60 1.70 percent Mar 2022
GDP Annual Growth Rate 11.90 5.90 percent Mar 2022
GDP Constant Prices 52077.20 50749.10 EUR Million Mar 2022
Gross Fixed Capital Formation 9445.60 9130.20 EUR Million Dec 2021
Full Year GDP Growth 4.90 -8.40 percent Dec 2021
Gross National Product 55645.50 54561.43 EUR Million Dec 2021
GDP From Utilities 1613.00 1583.90 EUR Million Dec 2021
GDP From Transport 4118.70 3935.20 EUR Million Dec 2021
GDP From Services 8145.30 8073.20 EUR Million Dec 2021
GDP From Manufacturing 6206.20 6165.30 EUR Million Dec 2021
GDP From Construction 1992.30 1961.10 EUR Million Dec 2021
GDP From Agriculture 1029.50 1021.50 EUR Million Dec 2021

Portugal GDP Annual 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.
Actual Previous Highest Lowest Dates Unit Frequency
11.90 5.90 16.50 -17.90 1996 - 2022 percent Quarterly