Portugal GDP Growth Rate  1988-2016 | Data | Chart | Calendar | Forecast

The Portuguese economy expanded 0.8 percent on the quarter in the three months to September 2016, following a 0.3 percent growth in the previous period and matching the preliminary estimate. It was the highest growth rate since the last quarter of 2013, driven by a rise in exports and household consumption while fixed investment continued to contract, final figures showed. Compared to the same period of 2015, the GDP expanded 1.6 percent, the biggest gain in one year. GDP Growth Rate in Portugal averaged 0.39 percent from 1988 until 2016, 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 GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-08-31 10:00 AM Q2 0.3% 0.2% 0.2% 0.2%
2016-11-15 09:30 AM Q3 0.8% 0.3% 0.2% 0.2%
2016-11-30 11:00 AM Q3 0.8% 0.3% 0.8% 0.8%
2017-02-13 09:30 AM Q4 0.18%
2017-02-28 11:00 AM Q4 0.18%
2017-05-12 08:30 AM Q1 0.33%




Portuguese Q3 GDP Growth Confirmed at 3-Year High


The Portuguese economy expanded 0.8 percent on the quarter in the three months to September 2016, following a 0.3 percent growth in the previous period and matching the preliminary estimate. It was the highest growth rate since the last quarter of 2013, driven by a rise in exports and household consumption while fixed investment continued to contract, final figures showed.

It was the tenth consecutive period of expansion and the strongest in three years, mainly boosted by net external demand as exports of goods and services expanded 2 percent (+1.2 percent in Q2), while imports showed no growth (+2 percent in Q2). 

Meanwhile, domestic demand was unchanged from the previous period (+0.6 percent in Q2), as gross fixed capital formation contracted 1 percent (+0.3 percent in Q2), amid a drop in construction (-0.1 percent from -4.1 percent in Q2), intellectual property products (-2.9 percent from +2.1 percent in Q2) and transport equipment (-6.3 percent from +9.9 percent in Q2); and government spending fell 0.6 percent (+0.4 percent in Q2). By contrast, household consumption expanded 0.5 percent, recovering from a 0.1 percent decline in the second quarter.

On the production side, output grew mainly for: Wholesale and retail trade, repair of motor vehicles and motorcycles, accommodation and food service activities (+0.9 percent from +0.3 percent in Q2); financial, insurance and real estate activities (+0.2 percent from -0.4 percent in Q2); industry (+3 percent from +0.6 percent in Q2); and transportation and storage; information and communication (+2.1 percent from +0.1 percent in Q2). Meanwhile, output fell for other services activities (-1.3 percent from +0.8 percent in Q2) and construction (-1.1 percent from -3.4 percent in Q2).

Total employment advanced 1.3 percent, the biggest gain since the third quarter of 2014, following a 0.4 percent growth in the precedent period.

Year-on-year, the economy advanced 1.6 percent, after growing by 0.9 percent in each of the previous two quarters. It was the strongest reading in one year, driven by net exernal demand, as exports rose 5.4 percent (+1.8 percent in Q2) and imports advanced at a slower 1.6 percent (+0.9 percent in Q2). Domestic demand grew 0.9 percent, higher than 0.8 percent in the previous quarter, as households' spending expanded by 1.9 percent (+1.6 percent in Q2) and public expenditure increased by 0.5 percent (+0.7 percent in Q2) while fixed investment contracted 1.5 percent (-2.4 percent in Q2). 

INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/30/2016 2:19:37 PM



Portugal GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 0.30 3.30 -2.60 percent [+]
GDP Annual Growth Rate 1.60 0.90 5.00 -4.50 percent [+]
GDP 198.93 230.12 262.01 3.19 USD Billion [+]
GDP Constant Prices 43546.40 43184.10 45757.90 33671.10 EUR Million [+]
Gross Fixed Capital Formation 6691.20 6756.70 11235.50 6328.90 EUR Million [+]
GDP per capita 21961.39 21537.46 22831.21 4506.32 USD [+]
GDP per capita PPP 26690.06 26174.86 27747.17 20281.54 USD [+]
GDP From Agriculture 910.00 903.90 916.10 782.30 EUR Million [+]
GDP From Construction 1454.60 1470.10 3452.00 1454.60 EUR Million [+]
GDP From Manufacturing 5329.50 5175.70 5587.00 4093.80 EUR Million [+]
GDP From Services 8231.10 8154.30 8231.10 5326.50 EUR Million [+]
GDP From Transport 2985.50 2923.60 3261.20 1865.10 EUR Million [+]
GDP From Utilities 1167.30 1141.80 1315.00 777.80 EUR Million [+]
Gross National Product 46684.15 44338.00 46684.15 28400.00 EUR Million [+]



Portugal GDP Growth Rate Notes

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. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
0.80 0.30 3.30 -2.60 1988 - 2016 percent Quarterly



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