Summary
The Portuguese Gross Domestic Product (GDP) increased by 1.2%, in volume, in the first quarter 2014, compared with the same period of 2013 (1.5% in the fourth quarter 2013), according to the flash estimate of the Quarterly National Accounts.
Net external demand recorded a pronounced negative contribution to the GDP year-on-year change rate in the first quarter, after a positive contribution in the previous quarter, mainly due to the deceleration of Exports of Goods and Services while Imports of Goods and Services accelerated. On the contrary, domestic demand presented a more significant positive contribution in the first quarter, mostly due to the Investment evolution. Comparing with the previous quarter, GDP decreased by 0.7% in real terms (change rate of 0.5% in the fourth quarter), mainly reflecting the reduction in the Exports of Goods and Services.
Year-on-year change rate of Gross Domestic Product was 1.2% in volume