Portugal GDP Grows 0.7% in Q4

The Portuguese economy advanced 0.7 percent on quarter in the last three months of 2017, above 0.5 percent in the previous period. It is the fastest growth rate in three quarters, mainly boosted by higher exports, preliminary estimates showed.

Exports rose faster than imports, switching the contribution from net trade to positive from negative. On the other hand, the contribution from domestic demand fell mainly due to a slowdown in private spending.

Year-on-year, the economy grew 2.4 percent, slightly below 2.5 percent in the third quarter amid a slowdown in investment and household consumption. Meanwhile, net external demand contributed positively to growth as sales went up more than purchases. 

Considering full 2017, the Portuguese economy advanced 2.7 percent, much faster than 1.5 percent in 2016 and the strongest growth rate in 17 years. Figures also beat government estimates of a 2.6 percent rise, mainly due to higher investment. For 2018, the government expects 2.2 percent growth. 

Portugal GDP Grows 0.7% in Q4

INE | Joana Taborda | joana.taborda@tradingeconomics.com
2/14/2018 9:56:13 AM