Statistics Portugal releases the new series of Regional Accounts (RA) according to the new benchmark of the Portuguese National Accounts, which have 2011 as reference year. This series incorporates methodological changes arising from the adoption of the European System of Accounts 2010 (ESA 2010), from Eurostat’s new Methodological Manual on Regional Accounts and from the use of new structural data, especially the Census 2011 and Census on Agriculture 2009.
Comparing to 2012, the last year for which regional accounts were published in the previous benchmark, the GDP was revised upwards in 6 of the 7 NUTSII regions, the lower revision being in the North region (1.6%) and the higher in the Alentejo region (5.4%). The Autonomous Region of Madeira was the only exception, with GDP being revised downwards 16.1%, largely due to the new rules for registration of Special Purpose Entities (SPE).
According to the results of the new series, in 2013, the region of Alentejo and the Autonomous Region of Madeira showed more significant decreases in real terms than the national average, with -2,2% and -1,8%, respectively. The Centro region, with -1,1%, recorded the lowest decrease, followed by the North and the Autonomous Region of Azores, with -1,2%. The regions of Algarve and Lisboa showed a growth similar to the whole country (-1,4%).