Statistics Portugal - Web Portal
Official Portal - Statistics Portugal

In 2021, Gross Domestic Product (GDP) was around 214.5 billion euros
National Accounts
In 2021, Gross Domestic Product (GDP) was around 214.5 billion euros
23 September 2022


In 2021, the GDP attained 214.5 billion euros, which represented a nominal growth of 7.0%, after the strong decrease (-6.5%) recorded in 2020, a year marked by the economic effects of the COVID-19 pandemic. All the major components of expenditure increased significantly in 2021, mainly Exports of Goods and Services, that grew 13.5%. 

The Gross Value Added (GVA) increased by 6.3% in nominal terms and 4.9% in volume, partially offsetting the negative performance observed in 2020 (-5.8% and -7.8%, in the same order). Noteworthy are the activities of Accommodation and Catering and Transport and Storage that showed the highest growth rates in volume (+11.1% and +9.4%, respectively), still insufficient to recover from the strong declines recorded in 2020 (-43.1% and -27.6%).  

Gross National Income (GNI) increased by 7.3% in 2021, after falling by 5.5% in 2020. The household savings rate decreased to 10.6%, minus 1.3 p.p. than the previous year, reflecting the strong recovery in private consumption. The economy presented a net lending of 0.6% of GDP, which contrasts with the -0.2% net borrowing recorded in 2020.

Press release
Download the document PDF (218 Kb)
Excel Excel (150 Kb)
ZIP CSV (34 Kb)