Portugal GDP Growth Rate

The Gross Domestic Product (GDP) in Portugal expanded 0.60 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Portugal is reported by the Statistics Portugal. GDP Growth Rate in Portugal averaged 0.40 Percent from 1988 until 2013, reaching an all time high of 3.30 Percent in the fourth quarter of 1990 and a record low of -2.60 Percent in the first quarter of 1991. Portugal has become a diversified and increasingly service-based economy since joining the European Community in 1986. Over the past two decades, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. Economic growth had been above the EU average for much of the 1990s, but has been below par during the last decade. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.60 0.30 3.30 -2.60 1.21 | 2014/03 1988 - 2013 Percent Quarterly

TO

Portugal GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-14 09:30 AM Portugal
GDP Growth Rate QoQ
Q3 2013 0.2% 1.1% -0.5% -0.9%
2013-12-09 11:00 AM Portugal
GDP Growth Rate QoQ - Final
Q3 2013 0.2% 1.1% 0.2% 0.2%
2014-02-14 09:30 AM Portugal
GDP Growth Rate QoQ
Q4 2013 0.5% 0.3% (R) -0.1%
2014-03-11 11:00 AM Portugal
GDP Growth Rate QoQ - 2 Est
Q4 2013 0.6% 0.3% 0.5% 0.5%
2014-05-15 11:00 AM Portugal
GDP Growth Rate QoQ Prel
Q1 2014 0.6% 1.27%
2014-06-09 11:00 AM Portugal
GDP Growth Rate QoQ - 2 Est
Q1 2014 0.6%
[+]

GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 38731.70 2013-11-15 38510.80 41449.30 30544.20 38834.15 2014-03-31 EUR Million [+]
GDP per capita 17839.68 2012-12-31 18385.81 18780.51 3717.61 17363.74 2013-12-31 USD [+]
GDP per capita PPP 20962.45 2012-12-31 21604.19 22067.98 11927.01 20274.34 2013-12-31 USD [+]
GDP Growth Rate 0.60 2013-12-31 0.30 3.30 -2.60 1.21 2014-03-31 Percent [+]
GDP Annual Growth Rate 1.70 2013-12-31 -0.90 5.60 -4.10 2.07 2014-03-31 Percent [+]
GDP 212.00 2012-12-31 238.00 252.00 3.20 195.26 2013-12-31 USD Billion [+]
[+]


Portuguese GDP Advanced More than Expected in Q4

The Portuguese economy expanded a revised 0.6 percent in the last quarter of 2013, up from the previous quarter's 0.3 percent growth. The final figure comes better than a 0.5 percent expansion previously reported, boosted by investment and exports.

Domestic demand contributed 0.4 percent to the quarter-on-quarter growth rate, driven by a 3.3 percent increase in investment (4.9 percent in the previous quarter), while private consumption fell 0.5 percent (1.1 percent in the previous three-month period). 

Net external demand contribution increased to 0.2 percent and rebounded from a negative 1.1 impact last quarter, mainly due to lower imports.

Compared with the same quarter last year, the economy advanced 1.7 percent, up from a preliminary 1.6 percent and surging from a 0.9 percent contraction in the previous quarter. 

Considering full 2013, the GDP still shrank 1.4 percent compared with a 3.2 percent contraction in 2012.

INE | Joana Taborda | joana.taborda@tradingeconomics.com
3/11/2014 11:56:45 AM

RECENT RELEASES

Portuguese Economy Rebounds in Q4 2013
In the last quarter of 2013, Portugal’s GDP advanced 0.5 percent over the previous quarter, accelerating from a 0.3 percent expansion in the previous three-month period, flash estimates showed. Published on 2014-02-14

Portuguese GDP Growth Confirmed at 0.2% in Q3
In the third quarter of 2013, the Portuguese economy advanced 0.2 percent over the previous quarter, down from a 1.1 percent expansion in the preceding three-month period and matching the initial estimate released earlier in November. Published on 2013-12-09


GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Portugal Inflation Rate Down to 4-1/2-Year Low  
Portugal’ annual inflation rate dropped to -0.37 percent in March of 2014, down from -0.08 percent in the previous month and 0.45 percent a year earlier. It is the lowest level since November of 2009.
Portuguese Trade Deficit Widens in February Over a Year Earlier  
The trade deficit increased to EUR 795.0 million in February of 2014, from EUR 744.4 million a year earlier, as exports increased by 4.7 percent and imports rose by 5.0 percent. Compared with January of 2014, the gap decreased from a revised EUR 956.0 million.
Portugal Inflation Rate in Negative Territory  
Portuguese annual inflation rate declined 0.1 percent in February of 2014, down from 0.1 percent in the previous month. Monthly inflation was recorded at -0.3 percent changing from -1.4 percent in January and -0.1 in February of 2013.
Portugal Trade Deficit Widens in January on Rising Imports  
Portuguese trade deficit widened to € 925 million in January of 2014, from a revised € 888 million deficit in December and a € 599 million gap a year earlier. Imports from countries outside the EU surged as bad weather conditions in December affected the normal working schedule of the port terminals.
Portuguese GDP Advanced More than Expected in Q4  
The Portuguese economy expanded a revised 0.6 percent in the last quarter of 2013, up from the previous quarter's 0.3 percent growth. The final figure comes better than a 0.5 percent expansion previously reported, boosted by investment and exports.
Portuguese Economy Rebounds in Q4 2013  
In the last quarter of 2013, Portugal’s GDP advanced 0.5 percent over the previous quarter, accelerating from a 0.3 percent expansion in the previous three-month period, flash estimates showed.
Portuguese Inflation Rate Slows in January  
In January of 2014, Portuguese annual inflation rate slowed to 0.1 percent from 0.2 percent in the last month of 2013. On a monthly basis, prices fell sharply by 1.4 percent, the lowest rate in almost 38 years, due to lower cost of clothing and flights.
Portugal Posts the Lowest Trade Deficit in 17 Years  
In 2013, Portugal’s trade deficit shrank 15 percent over the previous year to € 9.28 billion, the lowest deficit since 1996. The coverage rate reached 83.6 percent, corresponding to a 3.0 p.p. increase over a year earlier.
Portuguese Unemployment Falls for 3rd Straight Quarter  
In the fourth quarter of 2013, Portugal’s jobless rate decreased for the third straight quarter to 15.3, from 15.6 percent in the previous three-month period. A year earlier, unemployment reached 16.9 percent.
Portuguese Inflation Rate Rises 0.2% in December  
In December of 2013, Portuguese annual inflation rate turned positive and rose 0.2 percent, after falling 0.2 percent in the previous two months, due to higher prices of health, food and alcoholic beverages.
MORE RELATED NEWS

LATEST NEWS

Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.
Russia Unemployment Drops in March  
Russian jobless rate fell for the first time in four months to 5.4 percent, after remaining stable at 5.6 percent in the previous two months.
Canada Inflation Rises Above Forecasts in March  
The annual consumer prices in Canada accelerated to 1.5 percent in March of 2014 following a 1.1 increase in the previous month, as energy prices surged.
US Jobless Claims Rise Slightly  
In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. There were no special factors impacting this week's initial claims.
Brazil Unemployment Rate Down to 5%  
In March of 2014, Brazil’s jobless rate fell by 0.1 percentage point to 5 percent, below market forecasts. A year earlier, unemployment reached 5.7 percent.
Dutch Unemployment Rate Falls for the First Time in 2014  
In March of 2014, Netherlands’ seasonally adjusted jobless rate fell to 8.7 percent from 8.8 percent in the previous month and 8.1 percent a year earlier, as more people left permanently the labor market rather than found jobs.
Singaporean Trade Surplus Narrows Sharply in March  
The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.
Mozambique Leaves Lending Rate Steady at 8.25%  
At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.
Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
Angolan Inflation Rate Down To 7.32% in March  
The annual consumer prices in Angola decelerated for the second consecutive month to 7.32 percent in March of 2014, from 7.48 percent recorded in February of 2014.
MORE TOP NEWS

OVERVIEW    |     WORLBANK    |     [+] Calendar    |     [+] Countries    |     [+] Indicators    |     News