Portugal GDP Growth Rate

Last Release

Mar 31, 2025

Actual

-0.5

Units In

1.5

Frequency

Quarterly

Next Release

Aug 29, 2025

Time to Release

2 Months 28 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
14.7 Sep 2020	-15.2 Jun 2020	0.43 %	1988-2025	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

The Portuguese economy contracted 0.5% on quarter in the first three months of 2025, the biggest decline in four years, following a 1.4% expansion in the previous period and in line with the first estimate. The contribution of net external demand turned negative, shifting to -0.7 percentage points from +0.7 percentage points. This change reflects a 0.4% decline in exports of goods and services and a 1% increase in imports. Meanwhile, the positive contribution from domestic demand decreased to 0.1 percentage points, down from 0.7 points in the previous quarter, driven by a 1.1% decline in private consumption. On the other hand, investment grew by 3.8%, driven by a positive contribution from inventories amid a stock replenishment effect linked to higher imports of goods. On a year-on-year basis, the Portuguese economy expanded by 1.6% in Q1 2025, slowing from a 2.8% increase in the fourth quarter of 2024, in line with initial estimates.