Quarterly National Accounts - Flash Estimate
Gross Domestic Product down by 0.7% in real terms
- 1st Quarter 2011
13 May 2011
The Flash Estimate of the Portuguese Gross Domestic Product (GDP) points to a year on year growth rate of -0.7% in volume in the 1st quarter 2011 (change rate of 1.0% in the previous quarter). Comparing with the previous quarter, the Portuguese GDP also diminished 0.7%.
The year-on year GDP reduction in the 1st quarter 2011 was driven by the strong negative contribution of Domestic Demand, due to the decline of the Final Consumption Expenditures (of Households and General Government) and, in a lesser extent, of the Investment. The contribution of Exports of Goods and Services for the GDP year on year change rate remained strong in the 1st quarter. It should also be noticed that the implicit prices of both external trade flows of goods registered high growth rates.