GDP up 2.1% in 2018, misses government target

  • Lusa
  • 14 February 2019

GDP increased by 2.1%, against the government's estimates of 2.3% in 2018.

Portugal’s Gross Domestic Product (GDP) increased 2.1% in 2018, 0.7 percentage points less than the year before and less than the government’s forecast of 2.3% the Portuguese National Statistics Institute (INE) said on Thursday.

The INE’s quick estimate said, “these figures were the result of lower net external demand, a greater slow-down in the export of goods and services that the slow-down in imports and less powerful positive internal demand”.

Year-on-year, GDP rose 1.7% in the fourth quarter of last year compared with 2.1% in the third quarter.