Quarterly national accounts
Year-on-year change rate of Gross Domestic Product was -2.1% in volume
06 September 2013
The Portuguese Gross Domestic Product (GDP) registered a year-on-year decrease of 2.1% in volume in the 2nd quarter 2013 (-4.1% in the previous quarter). The GDP less intense year-on-year reduction in the 2nd quarter was due to the less significant negative contribution of domestic demand, shifting from -6.1 p.p. in the 1st quarter to -2.6 p.p., driven mainly by the less pronounced decline of Investment. The positive net external demand contribution to the GDP year on-year change rate decreased from 1.9 p.p. in the previous quarter to 0.4 p.p. in the 2nd quarter, as a result of the increase of Imports of Goods and Services, while Exports of Goods and Services accelerated.
Comparing with the previous quarter, Portuguese GDP increased by 1.1% in the 2nd quarter (change rate of -0.4% in the 1st quarter).
The results for the Annual National Accounts for 2011 are presented simultaneously, being available more detailed information, implying revisions to the previously published data.
Press release - complete version