Summary
In the 1st quarter 2011, GDP diminished 0.6%, in real terms, compared with the same period of 2010 (change rate of 1.0% in the previous quarter). This reduction reflected the strong negative contribution of domestic demand, due to the decline of the Final Consumption Expenditures and, in a lesser extent, of the Investment. The contribution of net external demand remained positive in the 1st quarter 2011, reflecting a strong growth of Exports of Goods and Services and a decrease of Imports of Goods and Services. It should also be noticed that the implicit prices of both external trade flows of goods registered high growth rates. Compared with the 4th quarter 2010, Portuguese GDP also decreased 0.6%.