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Quarterly national accounts
Gross Domestic Product registered a year-on-year change rate of 0.9% - 2nd Quarter 2016
31 August 2016

Summary

Gross Domestic Product (GDP) registered a year-on-year increase of 0.9% in volume in the second quarter 2016 (similar growth rate as observed in the previous quarter). The contribution of domestic demand to the GDP year-on-year change rate diminished, moving from 1.7 percentage points in the previous quarter to 0.6 percentage points, mainly due to the less intense growth of private consumption and to the more pronounced of Investment. The contribution of net external demand increased to 0.2 percentage points (in the previous quarter there was a negative contribution of 0.7 percentage points), with Imports of Goods and Services decelerating more intensely than Exports of Goods and Services.
Comparing with the first quarter 2016, the GDP registered a change rate of 0.3% in real terms in the second quarter (0.2% in the two previous quarters). The domestic demand registered a contribution to the GDP quarterly change of 0.2 percentage points and the contribution of net external demand was also positive (0.1 percentage points), due to the more intense growth of Exports of Goods and Services compared with Imports of Goods and Services.
Comparing with the flash estimate previously released for the second quarter, there was an upwards revision of 0.1 percentage points in the GDP year-on-year and quarter-on-quarter change rates, reflecting the inclusion of the new available data.


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