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||1996 - 2015
Portuguese economy has made a significant change in manufacturing moving from high dependence on textiles, footwear and others to new sectors involving larger incorporation of technology: motor vehicles and components, electronics, pharmaceuticals and new technologies. However, Portuguese GDP contracted in 2009 (-3 percent), and fell again from 2011 to 2013, as the government implemented spending cuts and tax increases to comply with conditions of an EU-IMF financial rescue package, signed in May 2011. In 2014 GDP returned to growth (+0.9 percent). 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 Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Portugal GDP Annual Growth Rate - was last refreshed on Friday, November 27, 2015.