The Gross Domestic Product (GDP) in Portugal expanded 1.90 percent in the second quarter of 2025 over the same quarter of the previous year. GDP Annual Growth Rate in Portugal averaged 1.52 percent from 1996 until 2025, reaching an all time high of 16.50 percent in the second quarter of 2021 and a record low of -17.60 percent in the second quarter of 2020. source: Statistics Portugal

GDP Annual Growth Rate in Portugal is expected to be 1.60 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 2.00 percent in 2026 and 1.70 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-07-30 08:30 AM
YoY Prel
Q2 1.9% 1.7% 1.9%
2025-08-29 10:00 AM
YoY Final
Q2 1.9% 1.7% 1.9% 1.9%
2025-10-30 09:30 AM
YoY Prel
Q3 1.6%


Related Last Previous Unit Reference
Full Year GDP Growth 1.90 2.60 percent Dec 2024
GDP Growth Rate YoY 1.90 1.70 percent Jun 2025
GDP Constant Prices 61423.40 61077.40 EUR Million Jun 2025
GDP from Agriculture 1156.57 1160.15 EUR Million Jun 2025
GDP from Construction 2391.07 2355.78 EUR Million Jun 2025
GDP from Manufacturing 7060.31 6969.63 EUR Million Jun 2025
GDP from Services 9690.73 9521.29 EUR Million Jun 2025
GDP from Transport 5108.16 5081.81 EUR Million Jun 2025
GDP from Utilities 1454.30 1483.31 EUR Million Jun 2025
GDP Growth Rate 0.60 -0.40 percent Jun 2025
Gross Fixed Capital Formation 12451.86 12201.60 EUR Million Jun 2025
Gross National Product 68823.36 73958.52 EUR Million Mar 2025

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
1.90 1.70 16.50 -17.60 1996 - 2025 percent Quarterly

News Stream
Portugal GDP Annual Growth Slows in Q1
Portugal's GDP rose by 1.6% year-on-year in Q1 2025, slowing from a 2.8% growth in the previous three-month period, according to preliminary estimates. The positive contribution of domestic demand to growth decreased in the first quarter due to a slowdown in private consumption. At the same time, the negative impact of net external demand became more pronounced, reflecting a deceleration in exports of goods and services. On a quarterly basis, the economy contracted by 0.5% in Q1, after a downwardly revised 1.4% rise in the previous period, contrary to analyst expectations of 0.4% growth.
2025-05-02
Portugal GDP Growth Revised Higher
The Portuguese economy expanded 2.8% year-on-year in the last three months of 2024, slightly higher than 2.7% in the preliminary estimate and above a downwardly revised 1.9% in Q3. It is the strongest economic performance in six quarters, with positive contribution of domestic demand to GDP growth rising to 3.1 percentage points from 2.9 percentage points in the third quarter, reflecting stronger private consumption despite a decline in investment. At the same time, the drag from net external demand eased to -0.3 percentage points from -1.0 percentage points, as exports slowed at a milder pace than imports. Compared to the previous quarter, the economy grew 1.5%, the best gain in almost three years, compared to a downwardly revised 0.2% in the third quarter of 2024. Considering full 2024, the Portuguese economy expanded 1.9%, below 2.6% in 2023.
2025-02-28
Portugal GDP Annual Growth Accelerates to 2.7% in Q4
Portugal's gross domestic product grew by 2.7% year-on-year in the fourth quarter of 2024, the most in six quarters and up from 2% in Q3, preliminary data showed. Domestic demand's contribution to GDP growth strengthened, driven by a rise in private consumption. However, net external demand continued to weigh on the year-on-year growth, as imports of goods and services grew more rapidly than exports.
2025-01-30