Portuguese economy grows 1.3 pct in 2006

12 March 2007

Lisbon, Portugal, 12 March – Portugal’s Gross Domestic Product (GDP) in 2006 saw annual growth of 1.3 percent, its biggest rate since 2004, according to the National Accounts published Friday by the Portuguese National Statistics Institute (INE).

INE said that economic growth was based on an 8.8 percent rise in exports, in terms of volume, which was the highest increase in foreign sales since 1995.

Consequently, internal demand contributed 1 percentage point to GDP growth, and this was the first time that foreign trade had contributed positively to economic growth since 2003.

In the fourth quarter of 2006, Portugal’s GDP posted growth of 1.7 percent year on year, or 0.2 percentage points more than in the third quarter. (macauhub)