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. 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
2019-02-14 09:30 AM GDP Growth Rate QoQ Prel Q4 0.4% 0.3% 0.3% 0.4%
2019-02-28 11:00 AM GDP Growth Rate QoQ Final Q4 0.4% 0.3% 0.4% 0.4%
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%
2019-08-30 10:00 AM GDP Growth Rate QoQ Final Q2 0.5% 0.5%
2019-11-14 09:30 AM GDP Growth Rate QoQ Prel Q3 0.4%



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.

Fixed investment jumped 10.4 percent in the first quarter, recovering from a 0.3 percent fall in the previous three-month period, due to higher spending on other machinery and equipment including weapon systems (14.5 percent vs -3 percent) and construction (9.7 percent from 2 percent). By contrast, decreases were seen in intellectual property products investment (-0.6 percent vs 2.6 percent) and transport equipment (-0.7 percent from -2.6 percent).

Also, household expenditure increased 0.3 percent (vs 1.3 percent), as consumption slowed for non-durable goods and services (0.8 percent vs 1.4 percent) and food and beverages (0.1 percent vs 0.7 percent) while it drop for durable goods (-2.1 percent vs 1.8 percent); and government spending went up 0.1 percent, unchanged from the previous period. 

Meanwhile, net external demand also contributed negatively to the GDP as imports surged 6.0 percent (vs 2.3 percent in Q4) and exports increased at a slower 2.9 percent (vs 1.6 percent in Q4).

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. Domestic demand was the main driver of growth while net exports contributed negatively to the GDP. 


INE | Agna Gabriel | agna.gabriel@tradingeconomics.com
5/31/2019 10:51:04 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 237.98 219.31 262.01 3.19 USD Billion [+]
GDP Constant Prices 46448.80 46203.40 46448.80 33674.90 EUR Million [+]
Gross Fixed Capital Formation 8896.70 8212.70 11235.50 6328.80 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 832.70 832.40 916.10 782.30 EUR Million [+]
GDP From Construction 1779.80 1671.70 3452.00 1493.80 EUR Million [+]
GDP From Manufacturing 5604.70 5658.20 5729.40 4093.80 EUR Million [+]
GDP From Services 8781.60 8659.10 8781.60 5326.50 EUR Million [+]
GDP From Transport 3314.00 3333.60 3337.50 1865.10 EUR Million [+]
GDP From Utilities 1235.10 1254.00 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 July of 2019.

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




Country Last Previous
United States 3.10 Mar/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
Russia -0.40 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19
Singapore -3.40 Jun/19


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