Portugal registers third-highest GDP growth in the EU
Only Austria and France performed better than Portugal in the third quarter. The country’s GDP increased by 2.9% in this period.
Portugal’s GDP increased by 2.9% in the third quarter of the year. It was the third-highest growth rate among European Union member states in this period, according to an estimate published by Eurostat. Only Austria and France had better economic performances.
Only Austria and France performed better than Portugal. The Austrian GDP grew by 3.8% and the French GDP increased by 2.9%, i.e. only 0.1 percentage point above the Portuguese growth rate.
On the other hand, Romania and Slovakia observed the lowest rates in this period, growing only by 0.4%, while Lithuania’s GDP did not register any rate of change.
Also, in the third quarter of 2021, seasonally adjusted GDP increased by 2.2% in the euro area and by 2.1% in the EU compared with the previous quarter.
Regarding employment, Ireland (+4.0%), Spain (+2.6%) and Lithuania (+2.1%) recorded the highest growth of employment in persons in the third quarter compared with the previous one. Employment fell in Latvia (-2.0%) and remained stable in Finland. Employment declined in Latvia (-2.0%) and remained stable in Finland (0.0%).
Portugal recorded a growth of 0.7%, which is below the average for the euro area (0.9%) and the European Union (0.9%).