Fri, 24 Sep 2021

Portugal's GDP grows 15.5 pct year-on-year in Q2

Xinhua
31 Jul 2021, 02:44 GMT+10

© Provided by Xinhua

Compared with the first three months of this year, the Portuguese GDP grew 4.9 percent, demonstrating a clear economic recovery with the gradual reopening of the country after the acceleration of COVID-19 vaccination.

LISBON, July 30 (Xinhua) -- Portugal's gross domestic product (GDP) soared 15.5 percent in the second quarter (Q2) of 2021 compared with the same period last year, according to data released on Friday by the Portuguese National Statistics Institute (INE).

According to INE, "this evolution is influenced by the basis of comparison," since "the restrictions on economic activity as a result of the pandemic intensified in the second quarter of 2020 when there was an unprecedented contraction."

© Provided by Xinhua

Compared with the first three months of this year, the Portuguese GDP grew 4.9 percent, demonstrating a clear economic recovery with the gradual reopening of the country after the acceleration of COVID-19 vaccination.

The statistical institute highlighted that the country's GDP was positively boosted by greater "domestic demand" and the improvement in "net foreign demand," with a more significant increase in goods exports.

Minister of State for Finance Joao Leao projected the Portuguese economy to grow more than 4 percent for this year, above the European Commission's forecast of 3.9 percent.

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