The Portuguese quarterly economic growth was confirmed at 0.4 percent in the fourth quarter of 2018, slightly above the previous period's figure of 0.3 percent. The expansion was mainly supported by household consumption while fixed investment contracted and net trade contributed negatively to the GDP. GDP Growth Rate in Portugal averaged 0.41 percent from 1988 until 2018, reaching an all time high of 3.30 percent in the fourth quarter of 1990 and a record low of -2.60 percent in the first quarter of 1991.

GDP Growth Rate in Portugal is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Portugal to stand at 0.50 in 12 months time. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.30 percent in 2020, according to our econometric models.

Portugal GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-14 09:30 AM GDP Growth Rate QoQ Prel 0.3% 0.6% 0.6%
2018-11-30 11:00 AM GDP Growth Rate QoQ Final 0.3% 0.6% 0.3% 0.3%
2019-02-14 09:30 AM GDP Growth Rate QoQ Prel 0.4% 0.3% 0.3% 0.4%
2019-02-28 11:00 AM GDP Growth Rate QoQ Final 0.4% 0.3% 0.4% 0.4%
2019-05-15 08:30 AM GDP Growth Rate QoQ Prel 0.4% 0.4%
2019-05-30 10:00 AM GDP Growth Rate QoQ Final 0.4% 0.4%
2019-08-14 08:30 AM GDP Growth Rate QoQ Prel 0.5%



Portugal Q4 GDP Growth Confirmed at 0.4%

The Portuguese quarterly economic growth was confirmed at 0.4 percent in the fourth quarter of 2018, slightly above the previous period's figure of 0.3 percent.

Household expenditure increased 1.3 percent in the fourth quarter (vs 0.7 percent), driven by consumption of both durable goods (1.5 percent vs -1 percent) and non durable goods and services (1.2 percent vs 0.9 percent). In addition, government spending rose 0.3 percent, after being unchanged in the third quarter.

By contrast, fixed investment shrank 0.6 percent, following a 0.8 percent growth in the previous three-month period, due to lower spending on other machinery and equipment including weapon systems (-5.2 percent vs 0.2 percent) and transport equipment (-2.7 percent vs 6.7 percent). Still, increases were seen in intellectual property products investment (2.5 percent vs 1.9 percent) and construction spending (1.6 percent vs -0.2 percent). Net external demand also contributed negatively to the GDP as imports surged 1.9 percent (vs -2 percent in Q3) and exports increased at a slower 1.1 percent (vs -3.7 percent in Q3).

Year-on-year, the economy grew 1.7 percent in the fourth quarter, also unrevised from the preliminary estimate and below the 2.1 percent expansion recorded in the previous period. Domestic demand was the main driver of growth while net exports contributed negatively to the GDP. Considering 2018 full year, the economy expanded 2.1 percent, slower than 2.8 percent in 2017.


INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/28/2019 11:19:31 AM



Portugal GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.30 3.30 -2.60 percent [+]
GDP Annual Growth Rate 1.70 2.10 5.00 -4.50 percent [+]
GDP 217.57 205.18 262.01 3.19 USD Billion [+]
GDP Constant Prices 46184.70 46017.80 46184.70 33671.10 EUR Million [+]
Gross Fixed Capital Formation 8147.80 8198.40 11235.50 6328.80 EUR Million [+]
GDP per capita 23116.58 22444.07 23116.58 4506.05 USD [+]
GDP per capita PPP 27936.90 27124.16 27936.90 20166.93 USD [+]
GDP From Agriculture 832.70 835.70 916.10 782.30 EUR Million [+]
GDP From Construction 1667.60 1624.70 3452.00 1493.80 EUR Million [+]
GDP From Manufacturing 5666.00 5633.70 5729.40 4093.80 EUR Million [+]
GDP From Services 8673.50 8581.80 8673.50 5326.50 EUR Million [+]
GDP From Transport 3322.00 3331.80 3331.80 1865.10 EUR Million [+]
GDP From Utilities 1254.00 1231.60 1315.00 777.80 EUR Million [+]
Gross National Product 51323.13 50587.13 51323.13 28399.81 EUR Million [+]


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. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.30 3.30 -2.60 1988 - 2018 percent Quarterly




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -0.70 Sep/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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