The Portuguese GDP advanced 6.7% in 2022, 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. source: Statistics Portugal

Full Year GDP Growth in Portugal averaged 1.43 percent from 1996 until 2022, reaching an all time high of 6.72 percent in 2022 and a record low of -8.30 percent in 2020. This page includes a chart with historical data for Portugal Full Year GDP Growth. Portugal Full Year GDP Growth - values, historical data and charts - was last updated on June of 2023.

Full Year GDP Growth in Portugal is expected to reach 1.20 percent by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal Full Year GDP Growth is projected to trend around 2.30 percent in 2024 and 2.10 percent in 2025, according to our econometric models.

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Portugal Full Year GDP Growth

Related Last Previous Unit Reference
GDP Growth Rate 1.60 0.30 percent Mar 2023
GDP Annual Growth Rate 2.50 3.20 percent Mar 2023
GDP 253.66 229.03 USD Billion Dec 2021

Portugal Full Year GDP Growth
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
6.72 5.48 6.72 -8.30 1996 - 2022 percent Yearly
Constant 2010 prices, NSA