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.