Portugal PIB - Tasa de crecimiento trimestral

The Portuguese economy grew by 0.8% in the third quarter of 2025, its strongest performance in three quarters, after a 0.7% expansion in Q2 and in line with the preliminary estimate. Domestic demand rose by 1.4%, the fastest pace in a year, up from 0.9% in the previous quarter, supported by stronger private consumption and investment. The contribution of net external demand became more negative (from -0.3 p.p. to -0.6 p.p.), as exports rebounded (0.8% vs. -0.1%) but were outpaced by a sharper rise in imports (2% vs. 0.5%). On a year-on-year basis, GDP increased 2.4%, also the strongest in three quarters, after a 1.8% rise in Q2. The negative contribution of net external demand was less pronounced, reflecting a slowdown in imports (3.7% vs. 4.6%) alongside a recovery in exports (1.2% vs. -0.1%). Meanwhile, the positive contribution of domestic demand eased, driven by weaker investment growth.