Agência para o Investimento e Comércio Externo de Portugal


Gross Domestic Product (GDP) grew by 2.4 per cent in the first half of 2023, compared to the same period last year. Exports accounted for 49.2 per cent of GDP and made the most significant contribution to economic growth.

According to data published by the Instituto Nacional de Estatística (INE), from January to June, GDP increased in nominal terms by 10.9 per cent compared to 2022. The figure totalled 130.1 billion euros.


The total value of exports was 64.1 billion euros, 41.3 billion euros in goods and 22.8 billion euros in services. These results represent an increase of 0.2 percentage points compared to the same period in 2022.

Foreign Direct Investment (FDI) also stands out in terms of weight.


According to the Bank of Portugal, at the end of June 2023, FDI totalled 173.9 billion euros. Considering the annual GDP at the end of the first half of 2023 (252.1 billion euros), the weight of FDI in the economy was 69 per cent.


From January to June 2023, the External Trade Balance recorded a positive growth of 2.4 billion euros, equivalent to 1.9 per cent of GDP.