Summary
In 2010, Gross Domestic Product (GDP) was up by 1.4% in volume, comparing with a change rate of -2.5% in the previous year. This behaviour was mainly due to the contribution of domestic demand to GDP change rate (shifting from -3.2 p.p. in 2009 to 0.9 p.p. in 2010), led by an increase of Final Consumption Expenditure of Resident Households and a less intense reduction of Investment. The contribution of net external demand was also positive (0.5 p.p., compared with 0.7 p.p. in 2009), with Exports of Goods and Services accelerating more intensely compared with Imports of Goods and Services.
In the 4th quarter 2010, GDP increased 1.2%, in real terms, compared with the same period of 2009 (change rate of 1.4% in the previous quarter). The contribution of domestic demand to GDP year on year change rate was positive in the 4th quarter 2010. Investment decreased less intensely, while Final Consumption Expenditure of Resident Households decelerated. The contribution of net external demand remained positive, with Exports of Goods and Services registering a strong growth in the 4th quarter 2010. Compared with the 3rd quarter 2010, Portuguese GDP decreased 0.3%.