The Gross Domestic Product (GDP) in Portugal contracted 2.30 percent in the first quarter of 2020 over the same quarter of the previous year. It came slightly batter than initial estimates of a 2.4 percent slump. The government expects the economy to shrink 7 percent this year due to the coronavirus pandemic.
GDP Annual Growth Rate in Portugal averaged 1.38 percent from 1996 until 2020, reaching an all time high of 5 percent in the second quarter of 1998 and a record low of -4.50 percent in the fourth quarter of 2012. 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 July of 2020.
GDP Annual Growth Rate in Portugal is expected to be -7.70 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 10.20 in 12 months time. In the long-term, the Portugal GDP Annual Growth Rate is projected to trend around 5.90 percent in 2021 and 2.00 percent in 2022, according to our econometric models.