The Portuguese economy advanced 4.9% on quarter in the three months to June 2021, the same as in the preliminary estimate and recovering from a 3.2% drop in the first quarter when the country was under a coronavirus lockdown. Internal demand contributed 5.4 percentage points to growth and the contribution from external demand was less negative than in the previous period. Year-on-year, the economy expanded at a record 15.5%, following a record 16.4% slump a year earlier. The Portuguese government expects the economy to grow 4% in 2021. source: Statistics Portugal

GDP Growth Rate in Portugal averaged 0.39 percent from 1988 until 2021, reaching an all time high of 13.40 percent in the third quarter of 2020 and a record low of -14 percent in the second quarter of 2020. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.

GDP Growth Rate in Portugal is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.60 percent in 2022 and 0.50 percent in 2023, according to our econometric models.

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Portugal GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.90 -3.20 13.40 -14.00 1988 - 2021 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2021-04-30 08:30 AM QoQ Prel Q1 -3.3% 0.2% -2.2%
2021-05-31 10:00 AM QoQ Final Q1 -3.3% 0.2% -3.3%
2021-07-30 08:30 AM QoQ Prel Q2 4.9% -3.2% 3.4%
2021-08-31 10:00 AM QoQ Final Q2 4.9% -3.2% 4.9%
2021-10-29 09:30 AM QoQ Prel Q3 4.9% 3.6%
2021-11-12 09:30 AM QoQ Final Q3 4.9%


News Stream
Portugal GDP Growth Unrevised at 4.9% in Q2
The Portuguese economy advanced 4.9% on quarter in the three months to June 2021, the same as in the preliminary estimate and recovering from a 3.2% drop in the first quarter when the country was under a coronavirus lockdown. Internal demand contributed 5.4 percentage points to growth and the contribution from external demand was less negative than in the previous period. Year-on-year, the economy expanded at a record 15.5%, following a record 16.4% slump a year earlier. The Portuguese government expects the economy to grow 4% in 2021.
2021-08-31
Portugal GDP Growth Rebounds in Q2
The Portuguese economy expanded 4.9% on quarter in the second quarter of 2021, rebounding from a 3.2% contraction in the previous quarter, as the economy gradually reopened from mid-March after a coronavirus lockdown in the first quarter of the year. Preliminary estimates showed economic growth was mainly driven by a rebound in domestic demand while the impact from the external demand was less negative. Year-on-year, the GDP surged at a record 15.5%. The European Commission expects the Portuguese economy to expand 3.9% in 2021, slightly less than government estimates of 4%. The economy shrank 7.6% in 2020, its biggest annual decline since 1936.
2021-07-30
Portugal GDP Contraction Confirmed at 3.3% in Q1
Portugal's gross domestic product shrank by 3.3 percent on quarter in the three months to March of 2021, in line with preliminary estimates and after a 0.2 percent growth in the previous period, amid a strict lockdown imposed in mid-January to contain a surge in Covid-19 infections. Both internal and external demand contributed negatively to the GDP. Year-on-year, the economy contracted 5.4 percent, following a 6.1 percent decline in the previous quarter. In early May, the government cut its 2021 economic growth forecast to 4% from 5.4% due to the tough restrictions imposed in January that are still being gradually lifted.
2021-05-31
Portugal GDP Falls in Q1 as Lockdown Bites
Portugal's gross domestic product shrank by 3.3 percent on quarter in the three months to March of 2021, compared to a 0.2 percent growth in the previous period, amid a strict lockdown imposed in mid-January to contain a surge in Covid-19 infections, a preliminary estimate showed. Year-on-year, the economy contracted 5.4 percent, following a 6.1 percent decline in the previous quarter. Both internal and external demand are estimated to have contributed negatively to the GDP. Earlier this month, the government cut its 2021 economic growth forecast to 4% from 5.4% due to the tough restrictions imposed in January that are still being gradually lifted.
2021-04-30

Portugal GDP 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.