Portugal GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

2.7

Units In

1.9

Frequency

Quarterly

Next Release

Feb 28, 2025

Time to Release

28 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
16.1 Jun 2021	-17.9 Jun 2020	1.47 %	1996-2024	Statistics Portugal

On the expenditure side, household consumption is the main component of GDP and accounts for 66 percent of its total use, followed by government expenditure (19 percent) and gross fixed capital formation (15 percent). Exports of goods and services account for 40 percent of GDP and imports account for 40 percent.

Latest Updates

Portugal's gross domestic product grew by 2.7% year-on-year in the fourth quarter of 2024, the most in six quarters and up from 2% in Q3, preliminary data showed. Domestic demand's contribution to GDP growth strengthened, driven by a rise in private consumption. However, net external demand continued to weigh on the year-on-year growth, as imports of goods and services grew more rapidly than exports.