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GDP grew 1.7% year-on-year in the fourth quarter 2018 and 2.1% in the year 2018
Quarterly National Accounts - Flash Estimate
GDP grew 1.7% year-on-year in the fourth quarter 2018 and 2.1% in the year 2018 - 4th Quarter 2018
14 February 2019

Summary

The Portuguese Gross Domestic Product (GDP) increased by 1.7% in volume, in the fourth quarter of 2018 (2.1% in the previous quarter). Net external demand presented a more negative contribution to year-on-year GDP rate of change, reflecting a reduction in volume exports of goods. On the opposite side, the positive contribution of domestic demand increased, as a result of the acceleration of Investment and private consumption.
In comparison with the third quarter of 2018, GDP increased by 0.4% in real terms (0.3% in the previous quarter). The contribution of net external demand to quarter-on-quarter GDP rate of change was less negative, while the positive contribution of domestic demand was lower than in the third quarter.
In 2018, GDP recorded a real growth rate of 2.1%, 0.7 percentage points less than in the previous year. This evolution was driven by a more negative contribution of net external demand, with a more pronounced deceleration of Exports of Goods and Services than of Imports of Goods and Services, and the lower positive contribution of domestic demand, reflecting the less intense growth of Investment.


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