Portugal GDP Growth (1961-2023)
Portugal experienced robust growth in the 1960s and early 1970s, reaching 11.2% in 1973 due to industrial expansion. However, the 1974 Carnation Revolution led to economic instability, with growth dropping to -4.3% in 1975. Portugal’s EU accession in 1986 revitalized growth, peaking at 8.0% in the late 1980s. The 2008 financial crisis and subsequent Eurozone debt crisis resulted in a prolonged recession, with GDP shrinking by -4.1% in 2012. Recovery began in 2015, and by 2021 growth had rebounded to 5.7%. However, global pressures slowed growth to 2.3% in 2023.
For additional information, visit statistics on urban expansion in Portugal, Portugal’s net lending/borrowing as a share of GDP, Portugal’s inflation rate outlook.
