Portugal's Q2 GDP up 7.1 pct
Sep 01, 2022
Lisbon [Portugal],September 1:Portugal's economy grew by 7.1 percent in the second quarter (Q2) of this year compared to the same period of 2021, Statistics Portugal (INE) said on Wednesday.
According to the INE, the country's gross domestic product (GDP) registered a "nil rate of change" in Q2 year-on-year.
This "partly reflects a base effect as several measures to mitigate the pandemic were in place in the first quarter of 2021, partially restricting economic activity."
According to the INE, the contribution of domestic demand to the year-on-year change of GDP "decreased in the second quarter of 2022, moving from 10 percentage points to 3.7, with a less intense growth of private consumption and investment."
"The positive contribution of net external demand to the year-on-year rate of change in GDP increased to 3.5 percentage points as a result of the more pronounced acceleration of exports of goods and services compared to imports of goods and services."
"In the second quarter, the implicit prices of the flows of external trade increased significantly, accelerating more in exports than in imports due to the components of services, determining a less intense loss of terms of trade compared to the previous quarter," the INE said.
Source: Xinhua
