Portugal's gross domestic product shrank by 6.1 percent year-on-year in the fourth quarter of 2020, following a 5.7 percent contraction in the previous period and compared with a preliminary estimate of a 5.4 percent fall. source: Statistics Portugal

GDP Annual Growth Rate in Portugal averaged 1.06 percent from 1996 until 2020, reaching an all time high of 5 percent in the second quarter of 1998 and a record low of -16.40 percent in the second quarter of 2020. This page provides - Portugal GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

GDP Annual 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. Looking forward, we estimate GDP Annual Growth Rate in Portugal to stand at 5.90 in 12 months time. In the long-term, the Portugal GDP Annual Growth Rate is projected to trend around 2.00 percent in 2022, according to our econometric models.

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Portugal GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-6.10 -5.70 5.00 -16.40 1996 - 2020 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2020-11-13 09:30 AM YoY Final Q3 -5.7% -16.3% -5.8% -5.8%
2020-11-30 11:00 AM YoY Final Q3 -5.7% -16.4% -5.7% -5.7%
2021-02-02 09:30 AM YoY Prel Q4 -5.4% -5.7% -3.6%
2021-02-26 11:00 AM YoY Final Q4 -6.1% -5.7% -5.4% -5.4%
2021-05-14 08:30 AM YoY Prel Q1
2021-05-28 10:00 AM YoY Final Q1
2021-07-30 08:30 AM YoY Prel Q2
2021-08-31 10:00 AM YoY Final Q2

Portugal GDP Annual 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.