May . 15 . 2020 page 4/9 Communication Unit | tel: +351 21 842 61 00 | [email protected] www.ine.pt SYNTH SIS IN @ COVID-19 More information available at: Consumer price index (13 May 2020) -1,5% -1,0% -0,5% 0,0% 0,5% 1,0% 1,5% 2,0% 2,5% Slovakia Malta Netherlands Lithuania Germany France Eurozone Italy Belgium Portugal Latvian Ireland Finland Spain Luxembourg Greece Cyprus Slovenia Harmonised Index of Consumer Prices Year-on-year rate of change in euro area countries Gross Domestic Product in volume registered a year-on-year rate of change of -2.4%. The Gross Domestic Product (GDP), in year-on-year terms, decreased by 2.4% in volume in the 1 st quarter of 2020 (+2.2% in the previous quarter). The contribution of net external demand to the year-on-year change in GDP was negative in the 1st quarter (-1.4 p.p.), after being positive in the previous quarter, since in “Goods and Services” the decrease in exports (-5.1%) was more intense than that of imports (-1.8%). This difference is mainly a consequence of the contraction of tourism activity in the evolution of services exports. The internal demand made a negative contribution (-1.0 p.p.), for the first time since the 3rd quarter of 2013, associated with the decrease in private consumption and investment. The GDP decreased by 3.9% compared to the 4th quarter of 2019. Total exports and imports decreased by 7.3% and 2.9% respectively (+4.1 and +0.7% in the previous quarter, in the same order). The internal demand recorded a sharper negative contribution, with -1.9 p.p. (-0.7 p.p. in the previous quarter).