GDP reading: The United States’ GDP expanded 1.5% on a seasonally adjusted quarter-on-quarter annualized (SAAR) basis in Q2, following 2.1%...
Economic Growth in Portugal
Portugal's economy recorded an average growth rate of 2.0% in the decade to 2024, compared to the 0.8% average for Euro Area. In 2024, real GDP growth was 1.9%. For more GDP information, visit our dedicated page.
Portugal GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Portugal from 2014 to 2025.
Source: Macrobond.
Portugal GDP Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Economic Growth (Real GDP, ann. var. %) | 5.6 | 7.0 | 3.1 | 2.1 | 1.9 |
| GDP (EUR bn) | 216 | 244 | 270 | 289 | 301 |
| Economic Growth (Nominal GDP, ann. var. %) | 7.7 | 12.7 | 10.8 | 7.1 | 4.1 |
Economy stagnates in Q1 2026
GDP reading: Portugal's GDP stagnated in seasonally adjusted quarter-on-quarter terms in Q1, following 0.9% growth in the previous quarter. Q1's reading was the weakest since Q1 2025. In annual terms, GDP expanded 2.3% in Q1, following a 1.9% expansion in the prior quarter.
Drivers: Relative to the prior period's data, figures in Q1 softened for private consumption (+0.1% on a seasonally adjusted quarter-on-quarter basis vs +0.9% in Q4) and government consumption (+0.3% vs +0.4% in Q4). In contrast, readings strengthened for fixed investment (+1.9% vs +1.2% in Q4), exports of goods and services (+2.1% vs -0.5% in Q4) and imports of goods and services (+5.4% vs -2.5% in Q4).
Panelist insight: EIU analysts said: “We have revised down our real GDP growth forecast for 2026 from 2% to 1.8% to reflect weaker private consumption stemming from higher inflation. Conversely, investment is set to remain robust in 2026 and to sustain growth above the EU average.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Portuguese GDP projections for the next ten years from a panel of 29 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Portuguese GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Portuguese GDP projections.
Want to get access to the full dataset of Portuguese GDP forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
-
United States: Economic growth decelerates in the second quarter of 2026 -
Mexico: Economy recovers in Q2 2026 GDP reading: Mexico’s GDP increased 1.5% in seasonally adjusted quarter-on-quarter terms in Q2, following a 0.6% contraction in the previous... -
China: Economic growth decelerates in the second quarter of 2026 GDP growth disappoints: China’s GDP grew 4.3% in annual terms in Q2, following 5.0% growth in the previous quarter. Q2’s... -
United Kingdom: Economy rebounds in May GDP reading: GDP increased 0.1% on a seasonally adjusted month-on-month basis in May, following a 0.1% drop in the previous... -
Kenya: Economic growth hits over one-year high in the first quarter of 2026 GDP reading: Kenya’s GDP increased 5.3% on a year-on-year basis in Q1, following a 4.0% expansion in the previous quarter.... -
Vietnam: Vietnam’s GDP growth surges in Q2 Economic growth overshoots estimates: Vietnam’s GDP grew 8.4% in annual terms in Q2, following upwardly revised 7.9% growth in the... -
Netherlands: Economic growth eases in the first quarter of 2026 Q1 GDP growth revised up from flash estimate: The second Q1 GDP release showed that the Netherlands’ economy expanded 0.2%...