The Portuguese economy advanced by 0.5 percent on quarter in the first three months of 2019, up from 0.4 percent in the previous period and beating market expectations of 0.3 percent, a preliminary estimate showed. It is the strongest growth rate since the second quarter of 2018. GDP Growth Rate in Portugal averaged 0.41 percent from 1988 until 2019, reaching an all time high of 3.30 percent in the fourth quarter of 1990 and a record low of -2.60 percent in the first quarter of 1991.

GDP Growth Rate in Portugal is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Portugal to stand at 0.40 in 12 months time. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.30 percent in 2020, according to our econometric models.

Portugal GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-30 11:00 AM GDP Growth Rate QoQ Final 0.3% 0.6% 0.3% 0.3%
2019-02-14 09:30 AM GDP Growth Rate QoQ Prel 0.4% 0.3% 0.3% 0.4%
2019-02-28 11:00 AM GDP Growth Rate QoQ Final 0.4% 0.3% 0.4% 0.4%
2019-05-15 08:30 AM GDP Growth Rate QoQ Prel 0.5% 0.4% 0.3% 0.4%
2019-05-31 10:00 AM GDP Growth Rate QoQ Final 0.4% 0.5% 0.5%
2019-08-14 08:30 AM GDP Growth Rate QoQ Prel 0.5%
2019-08-30 10:00 AM GDP Growth Rate QoQ Final 0.5%



Portugal GDP Growth Quickens to 0.5% in Q1

The Portuguese economy advanced by 0.5 percent on quarter in the first three months of 2019, up from 0.4 percent in the previous period and beating market expectations of 0.3 percent, a preliminary estimate showed. It is the strongest growth rate since the second quarter of 2018.

Growth was mainly supported by domestic demand, while net trade contributed more negatively than in the previous quarter.

Year-on-year, the economy advanced 1.8 percent in the first quarter of 2019, up from 1.7 percent in the previous period. The positive contribution of domestic demand increased, reflecting a significant acceleration in investment; while net external demand contributed negatively to growth, with imports rising faster than exports.

The Portuguese government expects the economy to grow 1.9 percent in 2019, slowing further from the previous year's expansion of 2.1 percent. However, it stands above projections of 1.7 percent by the Bank of Portugal, the European Commission, the International Monetary Fund (IMF) and also above the 1.6 percent antecipated by the Public Finance Council.


INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/15/2019 9:14:15 AM



Portugal GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.40 3.30 -2.60 percent [+]
GDP Annual Growth Rate 1.80 1.70 5.00 -4.50 percent [+]
GDP 217.57 205.18 262.01 3.19 USD Billion [+]
GDP Constant Prices 46454.50 46184.70 46454.50 33671.10 EUR Million [+]
Gross Fixed Capital Formation 8147.80 8198.40 11235.50 6328.80 EUR Million [+]
GDP per capita 23116.58 22444.07 23116.58 4506.05 USD [+]
GDP per capita PPP 27936.90 27124.16 27936.90 20166.93 USD [+]
GDP From Agriculture 832.70 835.70 916.10 782.30 EUR Million [+]
GDP From Construction 1667.60 1624.70 3452.00 1493.80 EUR Million [+]
GDP From Manufacturing 5666.00 5633.70 5729.40 4093.80 EUR Million [+]
GDP From Services 8673.50 8581.80 8673.50 5326.50 EUR Million [+]
GDP From Transport 3322.00 3331.80 3331.80 1865.10 EUR Million [+]
GDP From Utilities 1254.00 1231.60 1315.00 777.80 EUR Million [+]
Gross National Product 51423.00 51323.13 51423.00 28399.81 EUR Million [+]


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. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.40 3.30 -2.60 1988 - 2019 percent Quarterly




Country Last Previous
Singapore 3.80 Mar/19
United States 3.20 Mar/19
India 1.60 Dec/18
China 1.40 Mar/19
South Africa 1.40 Dec/18
Saudi Arabia 1.07 Dec/18
Russia 0.80 Dec/18
Spain 0.70 Mar/19
Japan 0.50 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Australia 0.20 Dec/18
Italy 0.20 Mar/19
Switzerland 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Mexico -0.20 Mar/19
South Korea -0.30 Mar/19
Indonesia -0.52 Mar/19
Argentina -1.20 Dec/18
Turkey -2.40 Dec/18


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