Quarterly Sector Accounts, 4th Quarter 2013, INE

Page created: Monday, 31 March 2014 12:02GMT | Updated: Wednesday, 2 April 2014 9:56GMT

Press Release:  31 March 2014 - 14 Page(s)
Financial Corporations  General Government   Households  Institutional Sector  Non-financial Corporations

In 2013, Gross National Income and GDP at current prices increased by 1.0% and 0.3%, respectively. The increase by 1.3% of Gross Disposable Income and the slight reduction of the final consumption (-0.1%) led to the increase of 9.3% in savings. This increase, as well as the reduction of Gross Capital Formation (-7.7%), determined a net lending of the Portuguese economy of 2.0% of GDP (net borrowing of 0.1% in 2012).

Despite the reduction observed in the 4th quarter, the household saving rate increased 0.6 percentage points in 2013 comparing with the previous year, attaining 12.6%. The net lending of households reached 6.8% of GDP in 2013 (6.4% in 2012). The non-financial corporations and financial corporations balances stood respectively at -2.1% and 2.3% of GDP in the 2013 (-3.9% and +3.9% in 2012, by the same order).

The net borrowing of general government decreased from 6.5% of GDP in 2012 to 5.0% in 2013. The main contribution to this improvement came from the increase in income taxes revenue (change rate of 27.9% in 2013).

Original title:  Net lending of the Portuguese economy reached 2.0% in 2013 - 4th Quarter 2013