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.