Portugal's quarterly economic growth was confirmed at 0.3 percent in the third quarter of 2019, below 0.6 percent in the previous three-month period. Household consumption grew firmly while fixed investment contracted by the most in four years and net external demand contributed negatively to GDP growth.

GDP Growth Rate in Portugal averaged 0.42 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. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Growth Rate in Portugal is expected to be 0.40 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 0.50 in 12 months time. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.40 percent in 2020, according to our econometric models.


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Portugal GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.60 3.30 -2.60 1988 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-08-14 08:30 AM GDP Growth Rate QoQ Prel Q2 0.5% 0.5% 0.4%
2019-08-30 10:00 AM GDP Growth Rate QoQ Final Q2 0.5% 0.5% 0.5%
2019-11-14 09:30 AM GDP Growth Rate QoQ Prel Q3 0.3% 0.6% 0.3% 0.4%
2019-11-29 11:00 AM GDP Growth Rate QoQ Final Q3 0.3% 0.6% 0.3% 0.3%
2020-02-14 09:30 AM GDP Growth Rate QoQ Prel Q4 0.4%


News Stream
2019-11-14
Portugal Q3 GDP Growth Weakest in Over 3 Years
The Portuguese economy advanced by 0.3 percent on quarter in the three months to September 2019, slowing from an upwardly revised 0.6 percent expansion in the previous period, a preliminary estimate showed. It was the weakest growth rate since the second quarter of 2016, as net external demand contributed negatively while the contribution of domestic demand was positive.

2019-08-30
Portugal Q2 GDP Growth Confirmed at 0.5%
Portugal's quarterly economic growth was confirmed at 0.5 percent in the second quarter of 2019, the same as in the previous three-month period. Net external demand was the main driver of growth while household consumption and fixed investment contracted.

2019-08-14
Portugal Economy Grows 0.5% in Q2
Portugal's GDP grew 0.5 percent on quarter in the three months to June of 2019, the same pace as in the previous period, the preliminary estimate showed. The expansion was driven by external demand, while domestic demand were a drag on growth. Compared with the same quarter of 2018, the economy advanced 1.8 percent.

2019-05-31
Portugal Q1 GDP Growth Confirmed at 0.5%
The Portuguese quarterly economic growth was confirmed at 0.5 percent in the first quarter of 2019, slightly above the previous period's figure of 0.4 percent and in line with preliminary estimates. It is the strongest growth rate since the second quarter of 2018. Year-on-year, the economy grew 1.8 percent in the first quarter, also unrevised from the preliminary estimate and above the 1.7 percent expansion recorded in the prior period.

2019-05-15
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.

2019-02-28
Portugal Q4 GDP Growth Confirmed at 0.4%
The Portuguese quarterly economic growth was confirmed at 0.4 percent in the fourth quarter of 2018, slightly above the previous period's figure of 0.3 percent. The expansion was mainly supported by household consumption while fixed investment contracted and net trade contributed negatively to the GDP. Year-on-year, the economy grew 1.7 percent in the fourth quarter, also unrevised from the preliminary estimate and below the 2.1 percent expansion recorded in the previous period. Considering 2018 full year, the economy expanded 2.1 percent, slower than 2.8 percent in 2017.


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.

Portugal GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.60 3.30 -2.60 percent [+]
GDP Annual Growth Rate 1.90 1.90 5.00 -4.50 percent [+]
GDP 237.98 219.31 262.01 3.19 USD Billion [+]
GDP Constant Prices 50486.50 50332.80 50486.50 35824.40 EUR Million [+]
Gross Fixed Capital Formation 9072.00 9196.40 11384.80 6360.90 EUR Million [+]
GDP per capita 23737.70 23197.40 23737.70 4506.05 USD [+]
GDP per capita PPP 28687.50 28034.60 28687.50 20166.90 USD [+]
GDP From Agriculture 1021.80 1013.70 1034.80 879.80 EUR Million [+]
GDP From Construction 1902.30 1894.90 3580.70 1563.40 EUR Million [+]
GDP From Manufacturing 6156.30 6220.80 6273.80 4442.10 EUR Million [+]
GDP From Services 8831.70 8804.20 8831.70 5308.90 EUR Million [+]
GDP From Transport 3735.00 3721.00 3735.00 2062.80 EUR Million [+]
GDP From Utilities 1540.00 1559.90 1782.50 1066.30 EUR Million [+]
Gross National Product 53814.68 52460.24 53814.68 28399.81 EUR Million [+]