Agência para o Investimento e Comércio Externo de Portugal


Portugal was the second country in the European Union (EU) that grew the most in the first quarter of 2023, according to the quick estimate released by Eurostat.

In a previous note, when there was only data for 12 countries, Portugal was in the lead, growing by 1.6%. Now, the country is behind Poland, which grew 3.9%.


In the global scenario, the Euro Zone grew by an average of 0.1% compared to the last quarter of last year, while the EU's GDP increased by 0.2%, a figure that was revised downwards compared to the 0.3% that had been indicated at the end of April.


As the INE had already indicated, Portuguese GDP grew by 1.6% at the beginning of the year, which was even a surprise in view of economists' expectations. The recovery was largely due to stronger-than-expected momentum in tourism and exports.


In The Portugal News