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Quarterly National Accounts - Flash Estimate
Gross Domestic Product decreased 3.8% in real terms - 4th Quarter 2012
14 February 2013

Summary
The Portuguese Gross Domestic Product (GDP) registered a year-on-year change rate of -3.8% in volume in the 4th quarter 2012 (-3.5% in the previous quarter), accordingly with the flash estimate of the Quarterly National Accounts. Comparing with the previous quarter, the Portuguese GDP diminished 1.8%.
The positive contribution of the net external demand decreased significantly in the 4th quarter, determined by the less intense decrease of Imports of Goods and Services and by the reduction of Exports of Goods and Services. On the contrary, the domestic demand recorded a less negative contribution for the year-on-year change rate of GDP, mainly reflecting a less expressive reduction of Investment.
In 2012, the Portuguese GDP diminished 3.2% in real terms (change rate of -1.6% in 2011).
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