The Portuguese economy shrank 5.4 percent year-on-year in the fourth quarter of 2020, following a 5.7 percent contraction in the previous period, preliminary estimates showed. Considering full 2020, the GDP shrank by a record 7.6 percent, following a 2.2 percent growth in 2019 and compared to the government’s forecast of an 8.5 percent decline. source: Statistics Portugal
GDP Annual Growth Rate in Portugal averaged 1.07 percent from 1996 until 2020, reaching an all time high of 5 percent in the second quarter of 1998 and a record low of -16.40 percent in the second quarter of 2020. This page provides - Portugal GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
GDP Annual Growth Rate in Portugal is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Portugal to stand at 5.90 in 12 months time. In the long-term, the Portugal GDP Annual Growth Rate is projected to trend around 2.00 percent in 2022, according to our econometric models.