Compared to the second quarter of 2021, Portugal registers the second highest GDP growth among EU countries. However, as a chain, it is one of four countries where GDP fell
The euro zone economy grew 3.9% in the second quarter and the European Union (EU) 4%, and Portugal recorded the second highest year-on-year increase in Gross Domestic Product (GDP), only surpassed by Slovenia.
According to data released Wednesday by Eurostat, Portugal’s GDP grew by 6.9%, above the eurozone and EU averages. It is, in fact, the second highest GDP year-on-year increase among the countries for which data is already available (21 of the 27 member states).
Portugal was only surpassed by Slovenia, whose economy grew 8.3% year-on-year.
However, in chain terms, the Portuguese performance is not so positive.
Compared with the previous quarter, the economies of the euro zone and the EU grew by only 0.6%. Among the countries for which data is available, there were four that registered a fall in the GDP quarter-on-quarter, one of them being Portugal.
Compared to the first three months of the year, the Portuguese economy shrank 0.2%, the smallest fall of the four, but still a more negative result than most EU countries.
The biggest fall in GDP occurred in Poland (-2.3%).
Eurostat also includes employment data in the bulletin, but without specifying by member state. Overall, the number of people employed in the eurozone and the EU rose by 0.3% compared to the first quarter of the year. Compared to the second quarter of last year, there was an increase of 2.4% in the eurozone and 2.3% in the EU.