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.