Portugal's gross domestic product shrank by a record 13.9 percent on quarter in the April to June period of 2020, entering a technical recession, as measures to contain the rapid spread of the COVID-19 pandemic forced many businesses to close and people to stay at home. Domestic demand tumbled 10.6 percent and external demand also contributed negatively to the GDP as exports plunged 36.1 percent and imports slumped 28.1 percent.
GDP Growth Rate in Portugal averaged 0.28 percent from 1988 until 2020, reaching an all time high of 3.30 percent in the fourth quarter of 1990 and a record low of -13.90 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 October of 2020.
GDP Growth Rate in Portugal is expected to be 8.60 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 1.60 in 12 months time. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.70 percent in 2021 and 0.50 percent in 2022, according to our econometric models.