Portugal with fifth fastest growing economy in the EU in 2023

Written By Manuel Poças

According to the latest OECD report, the OECD countries’ GDP growth decreased to 1.6%, when compared to 2.9% in the previous year.

Among the 27 EU countries, Portugal was the fifth fastest-growing economy. Its GDP growth rate was 2.6%. This is above the OECD, the EU, and the eurozone averages, which were 1.6%, 0.5%, and 0.5%, respectively.

Above Portugal were the US and Spain with 2.5%, Mexico with 3.1%, and Costa Rica with 5.1%. On the other hand, 10 countries had a negative growth rate. Ireland, Hungary, and Austria are among those countries.

Note, however, that even though Portugal was the fifth fastest growing country in 2023, its GDP growth rate decreased substantially when compared to the previous year. It went from 6.8% to 2.6%, which represents a drop of 4.2 percentage points.

Stay up to date
Subscribe To Portugal.com's Newsletter

Receive the latest news, travel information, stories, offers and more!

Invalid email address
Give it a try. You can unsubscribe at any time.
Join our FB group Portugal Travel & Living for all things Portugal and news updates

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Follow Us

576FansLike
8,589FollowersFollow
159FollowersFollow

Most Popular

5 Tax Deductions U.S. Expats Can Take Advantage of in Portugal

Strategic tax planning is critical if you’re a high-net-worth individual from the U.S. moving to Portugal via a Golden Visa or residency permit. By playing...

Proposed Changes to Portuguese Immigration Law – Here Is Everything You Need to Know

Portugal is on the brink of some of the most significant overhauls to its immigration and nationality laws in decades. Though no legislation has...

Italy Slams the Door on Citizenship Dreams for Many Americans. Why Not Try Portugal Instead?

Millions of Americans with Italian heritage are reeling from a devastating blow to their European citizenship dreams. Italy's recent law change has effectively cut...

Latest Articles