The Portuguese Gross Domestic Product (GDP) increased by 1.2% in volume in the fourth quarter 2015, compared with the same period of 2014 (1.4% in the third quarter 2015). The positive contribution of domestic demand to the GDP year-on-year change rate declined in the fourth quarter, mainly due to the deceleration of Investment. Net external demand registered a less negative contribution than in the third quarter, reflecting the deceleration of Imports of Goods and Services more pronounced than of Exports of Goods and Services.
Comparing with the third quarter, GDP registered change rate of 0.2% in real terms in the fourth quarter (nil change rate in the third quarter). The contribution of domestic demand was negative as a result of the reduction of Investment, while net external demand contributed positively, due to the growth of Exports of Goods and Services.
In 2015 GDP recorded a real growth rate of 1.5%, after increasing by 0.9% in the previous year, reflecting a less negative contribution of net external demand.