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GDP grew 2.3% year-on-year
Quarterly National Accounts - Flash Estimate
GDP grew 2.3% year-on-year - 2nd Quarter 2018
14 August 2018

Summary

The Portuguese Gross Domestic Product (GDP) increased by 2.3% in volume in the second quarter 2018, compared with the same period of 2017 (2.1% in the previous quarter). Domestic demand registered a more intense positive contribution to GDP year-on-year change rate, due to the acceleration of private consumption, while Investment presented a less intense growth driven to a large extent by the decrease of Gross Fixed Capital Formation in Transport Equipment, reflecting the positive base effect recorded in the second quarter 2017. Net external demand presented a negative contribution similar to that observed in the previous quarter.
In comparison with the first quarter of 2018, GDP increased 0.5% in real terms (0.4% in the previous quarter). The contribution of net external demand to the GDP quarter-on-quarter change rate was slightly less negative, as a result of the sharper acceleration of Exports of Goods and Services than in Imports of Goods and Services. In turn, the positive domestic demand contribution remained unchanged in the second quarter.


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