Summary
In the 1st quarter 2010, GDP increased 1.8% in real terms compared to the same period of 2009 (change rate of  1.0% in the last quarter of 2009). The GDP year on year increase was partly associated to a base effect (GDP decreased 3.9% in the 1st quarter 2009), with domestic demand contribution for the GDP change rate increasing to 1.4 percentage points in the 1st quarter 2010 (-2.2 p.p. in the previous quarter). Exports and Imports of Goods and Services increased 8.5% and 5.2% in volume, respectively. Comparing with the 4th quarter 2009, Portuguese GDP increased by 1.1%.
It should be noted that these results are based on new quarterly series for the Portuguese National Accounts, consistent with the annual data for 1995 to 2007 also released today.