SYNTHESIS INE@COVID-19, 4 JUN 2021

June . 04 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 6/10 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt Gross Domestic Product (chain-linked volume data, reference year=2016) Calendar and seasonally adjusted data Year-on-year rate of change, % • Net external demand had a less negative contribution (-2.0 p.p.) than in the 4 th quarter (-3.7 p.p.). However, the contraction of Exports of Goods and Services (-9.4%) continued to be more intense than that observed in Imports of Goods and Services (-4.5%), with emphasis on the very significant reduction of non-resident tourism. • GDP decreased by 3.3% in volume relative to the 4 th quarter of 2020 (following the slight increase of 0.2% seen in the previous quarter), reflecting the impact of mobility constraints as a result of the worsening pandemic crisis. The contributions of domestic demand and net external demand to the quarter-on-quarter rate of change of GDP were both negative, the former being more intense. • Resident Household Final Consumption Expenditure on non-durable goods and services decreased by 7.0%, year-on-year (-4.8% in the previous quarter), as a result of the sharp decline observed in the non-food goods and services component. The durable goods component accentuated the decline, in year-on-year terms, going from a rate of change of -3.5%, in the 4 th quarter, to -7.9%, reflecting the more intense fall in the acquisition of motor vehicles and the slowdown in expenditure on other durable goods. Final Consumption Expenditure Resident Household (year-on-year rate of change) -20 -15 -10 -5 0 5 I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 -7.9% -7.1% -40.0% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Durable goods Total