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. 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 0.40 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 0.40 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
2019-05-15 08:30 AM GDP Growth Rate QoQ Prel Q1 0.5% 0.4% 0.5% 0.4%
2019-05-31 10:00 AM GDP Growth Rate QoQ Final Q1 0.5% 0.4% 0.5% 0.5%
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 0.5% 0.4%
2019-11-29 11:00 AM GDP Growth Rate QoQ Final Q3 0.5% 0.4%



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 contributed positively to the GDP growth as exports rose 0.7 percent (vs 3.2 percent in Q1) while imports slumped 2.1 percent (vs 4.7 percent in Q1). In addition, government spending edged up 0.1 percent, the same pace as in the previous quarter.

By contrast, household expenditure shrank 0.3 percent (vs 0.2 percent in Q1), due to lower consumption of non durable goods and services (-0.7 percent vs 0.6 percent). Still, there were increases in consumption of food (0.4 percent vs -0.1 percent) and durable goods (1.2 percent vs -2.2 percent).

Also, fixed investment contracted 2.4 percent (vs 8.4 percent in Q1) due to lower spending on other machinery and equipment including weapon systems (-4.9 percent vs 13.0 percent) and construction (-3.6 percent vs 10.7 percent); while rises were seen in transport equipment spending (5.6 percent vs -0.6 percent) and intellectual property products investment (1.8 percent vs -0.6 percent).

Year-on-year, the economy grew 1.8 percent in the second quarter, also unrevised from the preliminary estimate and matching the expansion recorded in the previous period. Domestic demand was the main driver of growth while net exports contributed negatively to the GDP.


INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/30/2019 10:42:17 AM



Portugal GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.50 3.30 -2.60 percent [+]
GDP Annual Growth Rate 1.80 1.80 5.00 -4.50 percent [+]
GDP 237.98 219.31 262.01 3.19 USD Billion [+]
GDP Constant Prices 46714.70 46461.60 46714.70 33674.90 EUR Million [+]
Gross Fixed Capital Formation 8687.80 8902.50 11238.90 6328.90 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 827.20 829.30 916.10 782.30 EUR Million [+]
GDP From Construction 1753.20 1795.50 3452.00 1493.80 EUR Million [+]
GDP From Manufacturing 5601.40 5611.50 5729.40 4093.80 EUR Million [+]
GDP From Services 8784.10 8784.30 8784.30 5326.50 EUR Million [+]
GDP From Transport 3421.20 3322.10 3421.20 1865.10 EUR Million [+]
GDP From Utilities 1236.80 1239.20 1315.00 777.80 EUR Million [+]
Gross National Product 50051.60 51423.00 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 September of 2019.

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




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Indonesia 4.20 Jun/19
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