The Portuguese economy advanced 1.8 percent year-on-year in the first quarter of 2019, up from 1.7 percent in the previous period, preliminary estimates showed. The positive contribution of domestic demand increased, reflecting a significant acceleration in investment; while net external demand contributed negatively to growth, with imports rising faster than exports. GDP Annual Growth Rate in Portugal averaged 1.33 percent from 1996 until 2019, 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.
GDP Annual Growth Rate in Portugal is expected to be 1.60 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 1.80 in 12 months time. In the long-term, the Portugal GDP Annual Growth Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.