Portugal's GDP grew by 1.9% year-on-year in the third quarter of 2024, up from 1.6% in Q2, in line with preliminary estimates. Domestic demand's contribution to GDP growth slightly improved, rising from 2.5 to 2.6 percentage points, driven by stronger private consumption and a decline in investment. However, the contribution from net external demand remained negative, improving marginally from -0.9 to -0.8 percentage points, with both imports and exports of goods and services accelerating. On a quarterly basis, GDP increased by 0.2%, the same growth rate as in Q2. The contribution from net external demand worsened, shifting from -0.7 to -1.1 percentage points, while domestic demand's contribution improved to 1.2 percentage points, reflecting stronger private consumption and investment. source: Statistics Portugal
The Gross Domestic Product (GDP) in Portugal expanded 1.90 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Portugal averaged 1.50 percent from 1996 until 2024, reaching an all time high of 17.00 percent in the second quarter of 2021 and a record low of -17.80 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 January of 2025.
The Gross Domestic Product (GDP) in Portugal expanded 1.90 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Portugal is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal GDP Annual Growth Rate is projected to trend around 1.90 percent in 2025 and 1.70 percent in 2026, according to our econometric models.