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Gross Domestic Product year-on-year rate of change was 1.7% in the fourth quarter 2018. In 2018 GDP  increased by 2.1% in real terms and 3.6% in nominal terms, reaching  201 500 million euros in 2018
Quarterly national accounts
Gross Domestic Product year-on-year rate of change was 1.7% in the fourth quarter 2018. In 2018 GDP increased by 2.1% in real terms and 3.6% in nominal terms, reaching 201 500 million euros in 2018 - 4th Quarter 2018
28 February 2019

Summary

In 2018, the Portuguese Gross Domestic Product (GDP) increased by 2.1% in real terms, 0.7 percentage points less than the rate of change registered in 2017. In nominal terms, GDP increased by 3.6% (4.4% in 2017), reaching 201 500 million euros. Net external demand registered a contribution of -0.7 percentage points to real GDP growth (-0.3 percentage points in 2017), with Exports of Goods and Services decelerating more markedly than Imports of Goods and Services. The positive contribution of domestic demand decreased to 2.8 percentage points (3.1 percentage points in 2017), reflecting the less intense growth of Investment. In nominal terms, the External Balance of Goods and Services represented 0.1% of GDP (0.8% in 2017).
In the fourth quarter of 2018, GDP registered a year-on-year growth rate of 1.7% in volume (2.1% in the previous quarter). The contribution of net external demand to GDP year-on-year rate of change shifted from -0.3 percentage points in the third quarter to -1.6 percentage points, with a decrease in real terms of exports of goods. The positive contribution of domestic demand increased to 3.3 percentage points in the fourth quarter (2.4 percentage points in the previous quarter), due to the acceleration of Investment and private consumption.
In comparison with the third quarter of 2018, GDP increased 0.4% in real terms (0.3% in the previous quarter). The contribution of net external demand to the GDP quarter-on-quarter rate of change was less negative, while the positive contribution of domestic demand was lower than in the third quarter.


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