Lisbon, Dec. 17, 2025 (Lusa) - Most regions in Portugal recorded real gross domestic product (GDP) growth similar to that of the country in 2024, with only Alentejo and Madeira experiencing substantially lower growth, it was announced on Wednesday.
According to the Regional Accounts released today by the National Statistics Institute (INE), "it is estimated that Alentejo (1.1%) and the Autonomous Region of Madeira (1.5%) recorded the weakest performances" compared to the country's real growth, which stood at 2.1% in 2024.
"In the rest of the country, growth was close to the national average, with the Centre matching the country, the West and Tagus Valley, Greater Lisbon and the Setúbal Peninsula slightly exceeding (0.1 percentage points - p.p.) the national average", and the remaining regions (North, Algarve and Azores) showed "growth 0.2 p.p. higher than the country average".
In real growth, "in the North, Centre and West and Tagus Valley regions, economic dynamism resulted mainly from the growth of GVA [Gross Value Added] of industry and energy (2.8% in the North, 3.2% in the Centre and West and 4.1% in the Tagus Valley regions), accompanied by the performance of GVA in trade, transport, accommodation and catering, with increases in volume of 1.8% in the North, West and Tagus Valley and 2.6% in the Centre.
The GDP of Greater Lisbon "benefited from the growth in GVA in information and communication activities (4.2%), financial and insurance activities (3.6%) and trade, transport, accommodation and catering (2.0%), all with variations above the national average".
The "trade, transport, accommodation and catering sector had a significant impact on the GVA of the Algarve and the Autonomous Region of the Azores, with growth of 1.7% and 4.1% respectively (contributions of 0.7 p.p. and 1.1 p.p.)", and in these two regions, GDP also benefited "from the growth in GVA in industry and energy (9.9% and 6.4%, respectively) and agriculture, forestry and fisheries (8.9% and 7.1%, in the same order)".
In the Setúbal Peninsula, GDP growth "was mainly driven by the increase in GVA in the trade, transport, accommodation and catering sector (3.7%), which contributed 0.9 p.p. to the regional variation", and in Alentejo "the less significant GDP growth was due to the reduction in GVA in industry and energy (-2.3%), real estate activities (-2.1%) and trade, transport, accommodation and catering (-0.6%)".
GDP growth in Madeira, which was lower than the national average, "was affected by the reduction in GVA from services provided to companies (-4.4%), associated with lower activity at the Madeira International Business Centre, and by the decrease in GVA from public administration, defence, health and education (-0.3%)".
As for nominal GDP growth, which was 7.1% nationally in 2024, there were “positive variations in all regions of the country”, with the Algarve (8.3%). the Setúbal Peninsula (7.8%) and the Autonomous Region of Madeira (7.5%), "clearly above the national average".
"The North (7.2%), Greater Lisbon and the Autonomous Region of the Azores (both with 7.1%) performed close to the national average, while the Centre (6.7%), the West and Tagus Valley (6.6%) and, in particular, the Alentejo (4.5%) showed nominal growth below the total," according to the National Statistics Institute text.
The text released today by INE also closes the figures for 2023, in which the total national GDP "grew 3.1% in volume, with positive, albeit heterogeneous, variations in all regions".
"The West and Tagus Valley (4.8%), the Autonomous Region of Madeira (4.6%), the Autonomous Region of the Azores (3.5%), the Algarve and the North (both with 3.4%) and Greater Lisbon (3.2%) showed the most pronounced growth, higher than the country as a whole", while "the Centre (2.6%) and the Setúbal Peninsula (1.5%) showed moderate real increases and the Alentejo the least significant (0.5%)".
JE/AYLS // AYLS
Lusa
