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The Portuguese Gross Domestic Product (GDP) registered a year-on-year change rate of -3.8 per cent in volume in the 4th quarter 2012 (-3.5 per cent in the previous quarter), according to the flash estimate of the Quarterly National Accounts. Compared to the previous quarter, the Portuguese GDP diminished 1.8 per cent.
The positive contribution of the net external demand decreased significantly in the 4th quarter, determined by the less intense decrease of Imports of Goods and Services, and by the reduction of Exports of Goods and Services.
On the contrary, the domestic demand recorded a less negative contribution for the year-on-year change rate of GDP, mainly reflecting a less expressive reduction of Investment.
In 2012, the Portuguese GDP diminished 3.2 per cent in real terms (change rate of -1.6 per cent in 2011).