The Portuguese Gross Domestic Product (GDP) increased by 2.1% in volume in the third quarter 2018, compared with the same period of 2017 (2.4% in the previous quarter). The positive contribution of domestic demand to GDP year-on-year change rate decreased, due to the deceleration of private consumption. Net external demand presented a negative contribution, slightly less intense than that observed in the two previous quarters, with Exports and Imports of Goods and Services decelerating.
In comparison with the second quarter of 2018, GDP increased 0.3% in real terms (0.6% in the previous quarter). The contribution of net external demand to the GDP quarter-on-quarter change rate became negative, after being null in the previous quarter, reflecting a decrease of Exports of Goods and Services more intense than that of Imports of Goods and Services. The positive domestic demand contribution increased in the third quarter, reflecting a higher growth of private consumption and Investment.