Quarterly national accounts
Gross Domestic Product registered a year-on-year change rate of 2.9% - 2nd Quarter 2017
31 August 2017

Summary

Portuguese Gross Domestic Product (GDP) increased by 2.9% in volume in the second quarter 2017, compared with the same period of 2016 (growth rate of 2.8% in the first quarter 2017). Net external demand maintained a slightly positive contribution to the year-on-year GDP growth rate, with a deceleration in volume of Exports of Goods and Services of the same magnitude as that observed in Imports of Goods and Services. The positive contribution of domestic demand remained significant, higher than in the previous quarter, driven by the acceleration of Investment.
In comparison with the first quarter of 2017, GDP increased 0.3% in real terms (quarter-on-quarter change rate of 1.0% in the previous quarter). The contribution of net external demand to the GDP quarter-on-quarter growth rate was negative, with a slight reduction of Exports of Goods and Services. The positive contribution of domestic demand increased due to the behaviour of Investment, with Changes in Inventories and Gross Fixed Capital Formation (GFCF) presenting positive contributions, although in the latter case, less intense than in the previous quarter.


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