Gross Domestic Product (GDP) grew, in real terms, by 15.5% in the second quarter of 2021 compared to the same period of the previous year.
The data published today in the rapid estimate of the National Institute of Statistics (INE) also reveals that, compared to the previous quarter, Portugal grew by 4.9%, more than compensating for the drop in GDP caused by the pandemic in the first quarter of the year.
Portugal reaches the highest level of GDP since the beginning of the pandemic, which confirms the strong economic recovery in Portugal and the prospect that with the progress of the vaccination and the control of the pandemic situation, it will be possible to exceed the 4% growth estimate presented in the stability programme.
Well above the euro area average
After an above average decline in the first quarter (-3.2%) due to the containment caused by the pandemic, Portugal has, in the second quarter, so far, the highest growth rate (4.9%) among EU countries such as Germany (1.5%), Spain (2.8%), France (0.9%) or Italy (2.7%)
Translated with www.DeepL.com/Translator (free version)