Portugal’s GDP grows 4.2% in Q3

  • ECO News e Lusa
  • 29 October 2021

Statistics Portugal (INE) published this Friday the flash estimate that shows the evolution of Portuguese GDP for the period between July and September of this year.

Portugal’s gross domestic product grew by 2.9% in the third quarter from the second, and was up by 4.2% compared to the third quarter of last year, according to flash estimates released by the National Statistics Institute (INE) on Friday.

In the previous quarter, the year-on-year change in GDP had been 16.1%, a result that the institute said had been “greatly influenced by the strong impact of the pandemic in the 2nd quarter of 2020.”

The quarter-on-quarter increase, meanwhile, showed “a positive contribution of net external demand” – which had shrunk in the second quarter – “and a less intense positive contribution of domestic demand”, the release said.

Portugal’s government has said that it expects GDP this year to grow by 4.8% and next year by 5.5%.