The net lending of Portuguese economy stood at 0.8% of Gross Domestic Product (GDP) in 2019, which compares with 1.2% in 2018. Nominal GDP increased 3.9%, below the 4.0% growth of the Gross National Income (GNI) and Gross Disposable Income (GDI), with a decrease in the balance of primary income with the Rest of the World. Considering the data for the year ending in the quarter, the net lending of the economy increased from 0.6% of GDP in the third quarter to 0.8% in the fourth quarter of 2019.
In quarterly terms, the net lending of the Households’ institutional sector decreased from 1.7% of GDP in the year ending in the third quarter of 2019 to 1.6% in the year ending in the fourth quarter. Households’ disposable income increased less than final consumption expenditure, which led to a reduction of 0.1 percentage points in the savings rate to 6.7%. The balance of Non-Financial Corporations stood at -3.4% of GDP in the fourth quarter, while the net lending of Financial Corporations decreased to 2.4%.
The balance of the General Government (GG) sector registered an increase of 0.3 percentage points in the year ending in the fourth quarter of 2019, compared to the previous quarter, standing at around 403.9 million euros, which corresponded to 0.2% of GDP (-0.4% of GDP in 2018).
The information in this press release does not yet reflect the current situation determined by the pandemic Covid19. It is expected that the analyzed trends will change substantially. Nonetheless, the information available today is useful to establish a reference to assess future developments. Despite the circumstances, Statistics Portugal will try to maintain the statistical production and release calendar, although some adjustments might occur associated with the impact of the pandemic in obtaining primary information.
For this reason, Statistics Portugal asks for the best collaboration by firms, households and public entities in answering to Statistics Portugal‘s requests to obtain information, using Internet and telephone as alternative channels to face-to-face contacts. In fact, the quality of official statistics, particularly its ability to identify the impacts of the Covid19 pandemic, depends crucially on this collaboration that Statistics Portugal is grateful for in advance.