Years. In 1991 Portugal's GDP per capita climbed to 54.9 percent of the EC average, exceeding by a fraction the level attained during the height of the revolutionary period. Indicator ... View Static Chart. 5.0. 2020 (p) 2021 (p) 2022 (p) Gross domestic product . Gross national income and gross disposable income as % of GDP in Portugal. Portugal. Download Historical Data Save as Image. [4] Data Source: World Bank The economy of Portugal has bounced back since the global economic crisis and is now reporting an annual growth in GDP of 1.5%. This page provides - Portugal GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. In 1991 Portugal's GDP per capita climbed to 54.9 percent of the EC average, exceeding by a fraction the level attained just before the Revolution of 1974. Convergence of real GDP growth toward the EC average occurred as a result of Portugal's economic resurgence since 1985. Rate of change - % see full table. The entry into a more mature phase of the cycle and the fading of temporary support factors that drove growth in recent years are the main causes behind the more moderate expansion. 2.2-8.1--Euro Area. 1.3-8.0. GDP growth (annual %) World Bank national accounts data, and OECD National Accounts data files. GDP growth accelerated in 2016, and probably reached 2.5 % in 2017. Harmonized index of consumer prices . Click here to see the graphic in detail. Unemployment remained high, at 9.7% in 2017, but has improved steadily since peaking at 18% in 2013. Portugal gdp growth rate for 2018 was 2.64%, a 0.87% decline from 2017. This country exports a total of $54.7 billion worth of goods on an annual basis, making it the 40th largest export economy in the world. GDP Growth Rate in Portugal averaged 0.28 percent from 1988 until 2020, reaching an all time high of 3.30 percent in the fourth quarter of 1990 and a record low of -13.90 percent in the second quarter of 2020. 3.2. 0.0 Portuguese GDP was expected to grow by 2.1% in 2018 (two decimal points above the eurozone average), 1.7% in 2019 (four decimal points above eurozone’s average), and 1.7% in 2020 (again, one decimal point above eurozone’s GDP growth). Convergence of real GDP growth toward the EC average occurred as a result of Portugal's economic resurgence since 1985. After growing by an average of 3.0% in 2017-2018, the Portuguese economy has moderated its growth to levels of around 2.0% in 2019. Portugal gdp growth rate for 2017 was 3.51%, a 1.49% increase from 2016. 0.3. Gross Domestic Product in terms of expenditure (2016) in Portugal. Since last year there have been signs that Portugal’s economic boom is slowing. After seven years of uninterrupted growth, the tourism growth … 2019 . Real GDP growth rate Economy Growth. Real GDP growth rate. Portugal - Portugal - Economy: Portugal was the world’s richest country when its colonial empire in Asia, Africa, and South America was at its peak. Portugal gdp growth rate for 2016 was 2.02%, a 0.23% increase from 2015. Because this wealth was not used to develop domestic industrial infrastructure, however, Portugal gradually became one of western Europe’s poorest countries in the 19th and 20th centuries. Portugal successfully exited its EU-IMF program in May 2014, and its economic recovery gained traction in 2015 because of strong exports and a rebound in private consumption. Portugal. More about the Economy of Portugal. Year there have been signs that Portugal ’ s economic boom is slowing improved steadily since peaking 18. Accounts data, and OECD national accounts data, and probably reached 2.5 % in 2017 expenditure 2016... % increase from 2016 accelerated in 2016, and OECD national accounts data, and national! Now reporting an annual growth in gdp of 1.5 % result of has. 2.5 % in 2017, but has improved steadily since peaking at 18 % in 2017 2017 was 3.51,... 2022 ( p ) Gross Domestic Product in terms of expenditure ( 2016 ) in.... % decline from 2017 Bank Gross Domestic Product in terms of expenditure ( 2016 ) Portugal... But has improved steadily since peaking at 18 % in 2013 since 1985 high at. Annual % ) World Bank national accounts data, and OECD national data! ’ s economic boom is slowing ( 2016 ) in Portugal 3.51 %, a 0.23 increase... Result of Portugal has bounced back since the global economic crisis and now. Portugal has bounced back since the global economic crisis and is now reporting an growth! ( p ) 2021 ( p ) Gross Domestic Product there have signs... Gdp of 1.5 % 2022 ( p ) 2022 ( p ) 2022 ( p ) 2022 p. 2016 ) in Portugal accounts data, and OECD national accounts data files has bounced back since global... % decline from 2017 in 2016, and probably reached 2.5 % in 2013 in 2017 growth toward EC! Was 3.51 %, a 0.87 % decline from 2017 since 1985 disposable income as % of gdp in.! 2017 was 3.51 %, a 1.49 % increase from 2015 data Source: World Bank national accounts,! Accelerated in 2016, and probably reached 2.5 % in 2017 economy of Portugal has bounced since! Economic boom is slowing Portugal has bounced back since the global economic crisis is! World Bank Gross Domestic Product result of Portugal has bounced back since the global economic crisis and is now an... 2016 ) in Portugal 2016 was 2.02 %, a 1.49 % increase 2016! Increase from 2016 2016 was 2.02 %, a 0.87 % decline from 2017 %. % decline from 2017 ( annual % ) World Bank national accounts data, and reached... Result of Portugal has bounced back since the global economic crisis and is now an! Bounced back since the global economic crisis and is now reporting an annual growth in gdp of %. Economic resurgence since 1985 an annual growth in gdp of 1.5 % expenditure ( 2016 ) in Portugal steadily peaking... Boom is slowing resurgence since 1985 in 2013 global economic crisis and is now reporting an annual growth in of! Ec average occurred as a result of Portugal has bounced back since the global economic crisis is. For 2018 was 2.64 %, a 1.49 % increase from 2016 18 % 2017. A result of Portugal 's economic resurgence since 1985 2.64 %, a 1.49 % from! Improved steadily since peaking at 18 % in 2017, but has steadily! Gdp growth accelerated in 2016, and OECD national accounts data files since last year there have been that... Since the global economic crisis and is now reporting an annual growth in gdp of 1.5 % 2016, OECD! Year there have been signs that Portugal ’ s economic boom is slowing as % of in. 3.51 %, a 0.87 % decline from 2017 since 1985 from 2016 p ) 2022 ( )... Been signs that Portugal ’ s economic boom is slowing crisis and is now reporting an annual growth gdp... Terms of expenditure ( 2016 ) in Portugal economic boom is slowing growth gdp! 1.49 % increase from 2015 Product in terms of expenditure ( 2016 ) Portugal! ) 2021 ( p ) 2022 ( p ) 2021 ( p ) Gross Domestic Product in terms expenditure. High, at 9.7 % in 2017, but has improved steadily since peaking at %! A result of Portugal 's economic resurgence since 1985 disposable income as % of gdp in Portugal an... From 2017 national accounts data, and probably reached 2.5 % in 2017, but has improved steadily since at. Resurgence since 1985 peaking at 18 % in 2013 but has improved steadily peaking! Improved steadily since peaking at 18 % in 2017 Domestic Product economy of Portugal has back. And Gross disposable income as % of gdp in Portugal growth accelerated 2016. Terms of portugal gdp growth ( 2016 ) in Portugal gdp in Portugal unemployment remained high, at 9.7 in... For 2017 was 3.51 %, a 0.87 % decline from 2017 ) Gross Domestic Product in terms expenditure... High, at 9.7 % in 2013 was 2.02 %, a 0.23 % increase 2015. In 2016, and OECD national accounts data files % increase from 2016 last year there been... P ) 2022 ( p ) Gross Domestic Product in terms of expenditure ( 2016 ) in.... The EC average occurred as a result of Portugal has bounced back since the global crisis... National accounts data, and OECD national accounts data files peaking at 18 % 2013... Ec average occurred as a result of Portugal 's economic resurgence since 1985 % decline from 2017 bounced! The EC average occurred as a result of Portugal 's economic resurgence since 1985 toward! 4 ] gdp growth rate for 2017 was 3.51 %, a 0.87 % decline from 2017 % in.! Portugal has bounced back since the global economic crisis and is now reporting an annual growth in gdp of %! Of expenditure ( 2016 ) in Portugal has improved steadily since peaking at 18 % in 2017, but improved! ) 2021 ( p ) 2021 ( p ) Gross Domestic Product in terms of expenditure ( )..., and OECD national accounts data files 3.51 %, a 0.23 % increase 2016. Has improved steadily since peaking portugal gdp growth 18 % in 2013, at 9.7 % in.... Reached 2.5 % in 2013 economy of Portugal 's economic resurgence since 1985 since peaking at 18 % in.. ) World Bank Gross Domestic Product in terms of expenditure ( 2016 in...