Quarterly national accounts
Year-on-Year change rate of Gross Domestic Product was -4.0% in volume
- 1st Quarter 2013
05 June 2013
In the 1st quarter 2013, the Portuguese Gross Domestic Product (GDP) registered a year-on-year decrease of 4.0% in the 1st quarter 2013 (-3.8% in the previous quarter), corresponding to a downward revision of 0.1 p.p. comparing with the Flash Estimate , mainly due to the new external trade data. The more intense reduction of GDP was determined by the behaviour of domestic demand, which shifted from a contribution of -4.6 p.p. in the 4th quarter 2012 to -6.4 p.p.. The positive net external demand contribution increased, attaining 2.3 p.p. (0.8 p.p. in the 4th quarter 2012), as the result of the more intense reduction of Imports of Goods and Services.
In nominal terms, the External Balance of Goods and Services was positive, reaching 1.4% of GDP (-1.7% and -0.4% in the 1st and 4th quarter 2012, respectively), reflecting the different dynamics in real terms of the imports and exports and also the improvement in the terms of trade.
Comparing with the previous quarter, Portuguese GDP decreased 0.4% (change rate of -1.8% in the 4th quarter 2012).