Quarterly national accounts
Gross Domestic Product up by 1.9% in the year 2007 and 2.0% in the 4th quarter 2007
- 4th Quarter 2007
10 March 2008
GDP grew 1.9% in volume in 2007, 0.6 percentage points (p.p.) more than in the previous year. This behaviour was mainly influenced by domestic demand, benefiting from the recovery of Investment. The acceleration of domestic demand more than compensated the reduction of the contribution of net external demand to GDP growth. In nominal terms, GDP reached 162.9 billion euros, more 4.9% than in the previous year.
In the 4th quarter 2007, Gross Domestic Product increased by 2.0% in real terms compared to the same period of the previous year, accelerating from the precedent quarter (1.7%). This acceleration was associated to the growth of domestic demand, whose contribute to GDP growth rate was 3.4 p.p. in the 4th quarter (2.3 p.p. in the previous quarter), mainly determined by Investment. On the contrary, the contribution of net external demand to GDP growth decreased to 1.4 p.p. in the 4th quarter 2007 ( 0.6 p.p. in the previous). Compared to the 3rd quarter 2007, the rate of change on Portuguese GDP was 0.7% in volume in the 4th quarter.