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Portugal GDP Annual Growth Rate

Portugal's GDP annual growth rate fell to 1.93% in 2024, down from 2.61% in 2023, according to World Bank. This represents a decrease of 0.68% from the previous year. Portugal has GDP annual growth rate lower than the global median (1.93% vs median 3.24%). Compared with the median in Europe, Portugal is lower (1.93% vs regional median 2.10%) and ranks 26th out of 47 countries in Europe.

Portugal's real GDP rose to $240.56 billion in 2024, up from $236.01 billion in 2023.

Yearly Historical Data (1961-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 1.93%
2023 2.61%
2022 6.99%
2021 5.56%
2020 -8.2%
2019 2.75%
2018 2.95%
2017 3.31%
2016 2%
2015 1.59%
2014 0.74%
2013 -0.98%
2012 -4.05%
2011 -1.71%
2010 1.74%
2009 -3.12%
2008 0.32%
2007 2.51%
2006 1.63%
2005 0.78%
2004 1.79%
2003 -0.93%
2002 0.77%
2001 1.94%
2000 3.82%
1999 3.91%
1998 4.81%
1997 4.4%
1996 3.5%
1995 4.28%
1994 0.96%
1993 -2.04%
1992 1.09%
1991 4.37%
1990 3.95%
1989 6.44%
1988 7.49%
1987 6.38%
1986 4.14%
1985 2.81%
1984 -1.88%
1983 -0.17%
1982 2.14%
1981 1.62%
1980 4.59%
1979 5.64%
1978 2.82%
1977 5.6%
1976 6.9%
1975 -4.35%
1974 1.14%
1973 11.2%
1972 8.02%
1971 6.63%
1970 9.11%
1969 2.12%
1968 8.88%
1967 7.54%
1966 4.08%
1965 7.47%
1964 6.31%
1963 5.87%
1962 6.61%
1961 5.53%
Portugal GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in Portugal's total economic output.
Indicator Last Value Prior Value Period
GDP $308.68B $289.7B 2024
GDP Growth Rate (QoQ) 0.6% -0.4% Jun'25
GDP Growth Rate (YoY) 1.9% 1.7% Jun'25
GDP per Capita $22,479.2 $22,311.31 2024
GDP per Capita PPP $41,883.85 $41,571.02 2024
R&D Expenditure (% GDP) 1.7% 1.67% 2022
Real GDP $240.56B $236.01B 2024