Quarterly National Accounts - Flash Estimate
Year-on-year change rate of Gross Domestic Product was 1.6% in volume - 4th Quarter 2013
14 February 2014
According to the flash estimate of the Quarterly National Accounts, the Portuguese Gross Domestic Product (GDP) in volume increased by 1.6% in the fourth quarter 2013 compared with the same period of 2012, following a decrease of 0.9% in the third quarter. This evolution was mainly driven by the upturn of domestic demand, which presented the first positive contribution to the GDP year-on-year change rate since the fourth quarter 2010, mostly due to private consumption. The positive contribution of net external demand increased in the fourth quarter, reflecting the acceleration of Exports of Goods and Services.
Comparing with the previous quarter, GDP increased by 0.5% in real terms (0.3% in the precedent quarter).
In 2013, the Portuguese GDP diminished by 1.4% in volume (change rate of -3.2% in 2012).
Press release - complete version