Portugal’s GDP expanded 0.3 percent quarter-on-quarter in the three months to December 2022, up from 0.2 percent initially estimated and the same as in the previous quarter. Domestic demand slowed (0.2 percent vs. 0.7 percent in Q3), while gross capital formation rebounded (2.2 percent vs. -0.5 percent). Regarding net trade, exports advanced 0.2 percent (vs. 0.8 percent in Q3) while imports stalled (vs. 1.6 percent in Q3). On an annual basis, GDP increased by 3.2 percent, easing from a 4.8 percent expansion in the previous quarter. In 2022, GDP grew by 6.7 percent, the highest growth since 1987, after the 5.5 percent increase in 2021 that followed the historical decrease of 8.3 percent in 2020. source: Statistics Portugal

GDP Growth Rate in Portugal averaged 0.43 percent from 1988 until 2022, reaching an all time high of 14.60 percent in the third quarter of 2020 and a record low of -15.20 percent in the second quarter of 2020. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

GDP Growth Rate in Portugal is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.50 percent in 2024, according to our econometric models.

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Portugal GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-01-31 09:30 AM QoQ Prel Q4 0.2% 0.4% 0.1%
2023-02-28 11:00 AM QoQ Final Q4 0.3% 0.3% 0.2%
2023-04-28 08:30 AM QoQ Prel Q1 0.3% -0.3%


Related Last Previous Unit Reference
GDP Growth Rate 0.30 0.30 percent Dec 2022
GDP Annual Growth Rate 3.20 4.80 percent Dec 2022
GDP Constant Prices 52812.10 52691.10 EUR Million Dec 2022
Gross Fixed Capital Formation 9912.40 9701.80 EUR Million Dec 2022
Full Year GDP Growth 6.72 5.48 percent Dec 2022
GDP from Utilities 1571.50 1546.40 EUR Million Dec 2022
GDP from Transport 4265.30 4203.10 EUR Million Dec 2022
GDP from Services 8739.50 9090.40 EUR Million Dec 2022
GDP from Manufacturing 6410.50 6513.00 EUR Million Dec 2022
GDP from Construction 1962.30 1917.50 EUR Million Dec 2022
GDP from Agriculture 987.40 991.70 EUR Million Dec 2022
Gross National Product 60800.13 59546.08 EUR Million Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.30 14.60 -15.20 1988 - 2022 percent Quarterly

News Stream
Portugal Fourth-Quarter GDP Revised Higher
Portugal’s GDP expanded 0.3 percent quarter-on-quarter in the three months to December 2022, up from 0.2 percent initially estimated and the same as in the previous quarter. Domestic demand slowed (0.2 percent vs. 0.7 percent in Q3), while gross capital formation rebounded (2.2 percent vs. -0.5 percent). Regarding net trade, exports advanced 0.2 percent (vs. 0.8 percent in Q3) while imports stalled (vs. 1.6 percent in Q3). On an annual basis, GDP increased by 3.2 percent, easing from a 4.8 percent expansion in the previous quarter. In 2022, GDP grew by 6.7 percent, the highest growth since 1987, after the 5.5 percent increase in 2021 that followed the historical decrease of 8.3 percent in 2020.
2023-02-28
Portugal GDP Grows 0.2% in Q4, 2022 Best Year since 1987
The Portuguese economy expanded 0.2% on quarter in the last three months of 2022, following a 0.4% rise in the third quarter, preliminary estimates showed. The contribution from domestic demand slowed, with high inflation and interest rates weighing on spending while the contribution from net trade remained negative. Year-on-year, the economy expanded 3.1%, after a 4.9% jump in Q3. Considering full 2022, the Portuguese GDP advanced 6.7%, the best performance since 1987, following a 5.5% rise in 2021 and an 8.3% contraction in 2020. In 2022, domestic demand made a positive contribution to growth, but lower than in the previous year, with private consumption accelerating while investment slowed. The contribution of net trade was positive in 2022, after being negative in 2021.
2023-01-31
Portugal GDP Growth Confirmed at 0.4% in Q3
Portugal’s GDP expanded 0.4 percent quarter-on-quarter in the three months to September 2022, in line with preliminary estimates and accelerating from a tepid 0.1 percent expansion in the previous period. Domestic demand rebounded (0.4 percent vs. -0.5 percent in Q2), while gross capital formation dropped slightly (-1.7 percent vs. -4.5 percent). Regarding net trade, exports advanced 1.2 percent (vs. .9 percent in Q2) while imports grew 1.2 percent (vs. 1.5 percent in Q2). On an annual basis, GDP increased by 4.9 percent, easing from a 7.4 percent expansion in the previous quarter.
2022-11-30