Portugal’s GDP contracted 0.2 percent on quarter in the three months to the end of June 2022, following a revised 2.5 percent expansion in the previous quarter, a preliminary estimate showed. Domestic demand was the main drag for growth, while the contribution of net external demand remained positive amid higher exports. The economy advanced 6.9 percent year on year, following a revised 11.8 percent expansion in the first quarter of 2021. source: Statistics Portugal

GDP Growth Rate in Portugal averaged 0.43 percent from 1988 until 2022, reaching an all time high of 14.70 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 August of 2022.

GDP Growth Rate in Portugal is expected to be 1.10 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 0.60 percent in 2023 and 0.50 percent in 2024, according to our econometric models.

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Portugal GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-31 10:00 AM QoQ Final Q1 2.6% 1.7% 2.6%
2022-07-29 08:30 AM QoQ Prel Q2 -0.2% 2.5% -1.7%
2022-08-31 10:00 AM QoQ Final Q2 -0.2%


Related Last Previous Unit Reference
GDP Growth Rate -0.20 2.50 percent Jun 2022
GDP Annual Growth Rate 6.90 11.80 percent Jun 2022
GDP Constant Prices 51919.20 52077.20 EUR Million Jun 2022
Gross Fixed Capital Formation 9872.40 9445.60 EUR Million Mar 2022
Full Year GDP Growth 4.90 -8.40 percent Dec 2021
Gross National Product 54842.50 55645.50 EUR Million Mar 2022
GDP From Utilities 1581.70 1613.00 EUR Million Mar 2022
GDP From Transport 4331.10 4118.70 EUR Million Mar 2022
GDP From Services 8585.10 8145.30 EUR Million Mar 2022
GDP From Manufacturing 6208.80 6206.20 EUR Million Mar 2022
GDP From Construction 2083.10 1992.30 EUR Million Mar 2022
GDP From Agriculture 977.60 1029.50 EUR Million Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-0.20 2.50 14.70 -15.20 1988 - 2022 percent Quarterly

News Stream
Portugal Economy Contracts in Q2
Portugal’s GDP contracted 0.2 percent on quarter in the three months to the end of June 2022, following a revised 2.5 percent expansion in the previous quarter, a preliminary estimate showed. Domestic demand was the main drag for growth, while the contribution of net external demand remained positive amid higher exports. The economy advanced 6.9 percent year on year, following a revised 11.8 percent expansion in the first quarter of 2021.
2022-07-29
Portugal GDP Growth Confirmed at 2.6% in Q1
Portugal's gross domestic product expanded 2.6 percent on quarter in the first three months of 2022, accelerating from a 1.7 advance in the previous quarter, in line with preliminary estimates. The acceleration of GDP was determined by the positive contribution of domestic demand, reflecting the acceleration of private consumption mostly due to the increase of expenditure in services’ activities, after the removal of most restrictions on economic activity imposed in the context of the COVID-19 pandemic. The contribution of net external demand remained slightly positive. Year-on-year, the economy grew 11.9 percent, quickening from a 5.9 percent increase in Q4 mostly due to a base effect, since, in January and February 2021, several measures to mitigate the pandemic were in place that strongly conditioned economic activity.
2022-05-31
Portugal Economic Growth Quickens in Q1 2022
Portugal’s GDP rose 2.6 percent on quarter in the first three months of 2022, accelerating from a revised 1.7 percent expansion in the previous quarter, a preliminary estimate showed. Domestic demand was a key driver of growth, partly due to the acceleration of private consumption, while the contribution of net external demand remained slightly positive. Year-on-year, the economy advanced 11.9 percent, following a revised 5.9 percent expansion in the fourth quarter of 2021.
2022-04-29