Portugal Government News Headlines

In March 2026, the tourist accommodation sector recorded 2.3 million guests (+0.9% ) and 5.6 million overnight stays (+1.4%). These results accounted for EUR 432.9 million in total revenue and EUR 319.2 million in revenue from accommodation (+6.6% and +5.9%, respectively).

The growth in overnight stays resulted from positive contributions from non-residents, whose overnight stays increased by 2.9% (-0.2% in February), reaching 4.0 million, whilst overnight stays by residents decreased by 2.3% (following +2.6% in February), totalling 1.6 million.

Among the top ten inbound markets, the Irish and Spanish markets stood out with the highest growth rates (+16.2% and +14.0%, respectively), whilst the Brazilian market recorded the sharpest decline (-7.0%). 

This month, the revenue per available room (RevPAR) stood at EUR 49.7 (+1.9%), while the average daily rate (ADR) was EUR 98.6 (+2.9%). 

It should be noted that the March results may have been influenced by the moving structure of the calendar, i.e., by the effect of the holiday period associated with Carnival and Easter.

In 2025, 87,764 live births were born to mothers residing in Portugal, 3,122 more (+3.7%) more than in 2024. About a third of the children were born to foreign-born mothers (mothers who were not born in Portugal).

The number of deaths of residents in the national territory was 121,817, 3,421 more (+2.9%) than in 2024. Of these, 246 deaths were children under 1 year of age (eight less than in 2024). The decrease in infant deaths and the increase in the number of live births has resulted in a decrease in the infant mortality rate to 2.8 deaths per thousand live births (3.0‰ in 2024).

The worsening of the natural balance, in 2025, to -34,053 (-33,754 in 2024) was therefore determined by the increase in the number of deaths. The Grande Lisboa was the only NUTS 2 region where, for the third consecutive year, a positive natural balance was registered (+414).

In 2025, 37,714 marriages were celebrated in Portugal, 1,081 more (+3.0%) than in 2024, of which 36,651 were opposite-sex marriages and 1,063 same-sex marriages.

On Labour Day, Statistics Portugal compares Portugal with other European Union countries in an analysis focusing on supplementary indicators to unemployment, which allow to identify situations where the labour force is underutilised. The unemployment rate is a key labour market indicator, but it does not reflect the full picture. These indicators highlight the scale of the potential labour force that is not being utilised due to mismatches between labour supply and demand or other barriers to accessing the labour market. This situation particularly affects young people and women, groups in which involuntary part-time work and marginal links to the labour market remain more common.

On Labour Day, this comparative analysis with the European Union reinforces the importance of policies focused not only on job creation, but also on ensuring that jobs match the characteristics of the potential workforce.

Gross Domestic Product (GDP), in volume, recorded a year-on-year growth rate of 2.3% in the first quarter of 2026, after increasing 1.9% in the previous quarter. The positive contribution of domestic demand to the year on  year growth rate of GDP increased in the first quarter, determined by an acceleration of investment. Net external demand recorded a more negative contribution, as imports of goods and services grew at a faster pace than exports of goods and services. 

Compared to the fourth quarter of 2025, GDP in volume stabilised, after an increase of 0.9% in the previous quarter. The contribution of net external demand to the quarter-on-quarter rate of change of GDP turned negative, as imports of goods and services recovered more significantly than exports of goods and services. In the opposite direction, the contribution of domestic demand turned positive, with a marked acceleration of investment, while private consumption slowed down.

Based on the information available until the date of this press release, the Consumer Price Index (CPI) annual rate is estimated to have increased to 3.4% in April 2026 (2.7% in March). Similarly to what occurred in the previous month, this acceleration is mainly explained by the increase in the prices of fuels. The core inflation index, which excludes energy and unprocessed food products components presented a rate of change of 2.2% (2.0% in the previous month). The annual rate of change of the index for energy products increased to 11.7% (5.7% in March) and the estimated index for unprocessed food presented a rate of change of 7.5% (6.4% in the previous month). 

The CPI monthly rate is estimated to be 1.4% (2.0% in March and 0.7% in April 2025), while the CPI 12-month average rate was estimated to be 2.4% (2.3% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 3.3% (2.7% in the previous month). 

The April CPI final results will be released on May 13th, 2026.

The flash estimate for International Trade in Goods for the 1st quarter of 2026 indicates, in nominal terms, a decrease of 6.4% in exports and an increase of 2.6% in imports, compared to the same period last year. Excluding TTE transactions, i.e., with a view to or following processing (without transfer of ownership), there was an increase in exports (+1.1%) and growth in imports becomes more pronounced (+4.2%).

In the 4th quarter of 2025, both flows recorded decreases: -2.8% in exports (-3.6% excluding TTE) and -4.2% in imports (-3.1% when TTE are excluded). Accordingly, in the 1st quarter of 2026, the downward trajectory of exports intensified, while the trend in imports reversed, resulting in a deterioration of the trade balance.

February 2026 (definitive estimates):

• The unemployment rate stood at 5.8%, up from January 2026 by 0.2 percentage points (pp), and from November 2025 by 0.1 pp, but down by 0.5 pp from February of that year.

• The labour underutilisation rate was estimated at 9.8%, up from the previous month (0.2 pp), equal to three months earlier, but down from the same month of a year before (0.8 pp).

March 2026 (provisional estimates):

• The unemployment rate stood at 5.8%, as in February 2026, up from December 2025 (0.2 pp), but down from March of a year before (0.5 pp).

• The labour underutilisation rate was estimated at 9.8%, the same value as in the previous month, up from three months before (0.1 pp), but down from a year earlier (0.9 pp).

• The youth unemployment rate stood, in March 2026, at 18.1%, reaching the lowest value since October 2022 (17.5%).

The Consumer confidence indicator decreased in the last three months, significantly in March, registering in April the lowest value since November 2023. This decline in April was driven by negative contributions from opinions on the past evolution of households’ financial situation and from expectations regarding the future evolution of both households’ financial situation and the country’s economic situation. By contrast, expectations on the future evolution of major purchases by households contributed positively.

The balances of Consumers’ opinions on the past evolution of households’ financial situation and the country’s economic situation declined over the last three months, with a significant drop in April, when they recorded their largest decreases since April and May 2020, respectively. The balance of opinions on past price developments increased significantly in April, recording the highest rise since May 2008. By contrast, the balance of expectations on future price developments declined, after increasing in the previous three months, markedly in March, when it registered the second largest increase of the series and reached its highest level since March 2022.

The economic climate indicator increased in April, after having decreased in the previous month. The confidence indicators increased in Trade and in Construction and Public Works, having decreased in Manufacturing Industry and in Services. 

The number of trips made by residents increased by 13.7% in 2025, reaching an all-time high of 26.0 million. Domestic trips grew by 14.0% and trips abroad rose by 12.5%, both reaching record highs. “Free private accommodation” remained the preferred mean of accommodation, despite losing relevance (58.4%, down 1.0 p. p. compared to 2024). The average duration of trips was 3.90 nights (4.07 nights in 2024).

Spain (38.8%; -1.8 p.p.), France (9.7%, +0.2 p.p.), and Italy (6.3%, +0.1 p.p.) remained the main destination countries for residents’ trips abroad.

In the 4th quarter of 2025, residents in Portugal made 6.0 million trips, representing growth of 13.2% (+8.0% in the 3rd quarter of 2025). Domestic trips increased by 12.8%, accounting for 85.9% of all trips (5.2 million). Trips abroad grew by 15.7% (+2.1% in the 3rd quarter of 2025), totalling 846.5 thousand trips, which accounted for 14.1% of the total.

The median value of bank appraisals on housing reached €2,151 per square meter in March, €29 more than in the previous month (an increase of 1.4%). On a year-on-year basis, the rate of change stood at 16.5% (17.2% in February). It should be noted that the number of bank appraisals increased 10.8% when compared to the previous period, to around 32.8 thousand, 10.3% less than reported in the same period of the previous year. 

In the 4th quarter of 2025, the median house price of the 41,789 family dwellings transacted in Portugal was 2,198 €/m2, following a variation rate of 17.5% in relation to the 4th quarter of 2024 (16.1% in the previous quarter). The number of family dwellings sales in Portugal decreased by 5.3% compared to the same quarter of 2024. The median house price increased, compared to the same period in 2024, in 24 of the 26 NUTS 3 sub-regions. Only Alto Tâmega e Barroso (-12.1%) and Região Autónoma da Madeira (-8.3%) recorded year-on-year decreases in housing prices.

The five sub-regions with the highest median house prices – Grande Lisboa, Algarve, Península de Setúbal, Região Autónoma da Madeira, and Área Metropolitana do Porto – also presented the highest values in both categories of the purchaser's tax residence (national territory and foreign). In the Grande Lisboa and Área Metropolitana do Porto sub-regions, the median price (€/m2) of transactions carried out by purchasers with foreign tax residence exceeded the price of transactions by purchasers with tax residence in the national territory by 49.0% and 35.6%, respectively.

In the 4th quarter of 2025, house prices accelerated (that is, they recorded increases in year-on-year change rates) in 13 of the 24 municipalities with more than 100 thousand inhabitants (compared with 12 in the 3rd quarter of 2025), with the municipalities of Barcelos (+14.5 percentage points (p.p.)), and Maia (+14.1 p.p.) showing the largest increases. The biggest decreases in the year-on-year rate of change occurred in the municipalities of Matosinhos (-27.6 p.p.) and Coimbra (-25.7 p.p.). The municipalities of Lisboa and Porto recorded increases of 2.2 p.p. and 3.8 p.p. in the year-on-year growth rates from the 3rd to the 4th quarter of 2025. The municipalities of Lisboa (5,198 €/m2), Cascais (4,654 €/m2), and Oeiras (4,225 €/m2) had the highest house prices.

In 2025, the median house price of dwellings sales in Portugal was 2,076 €/m2, with the sub-regions Grande Lisboa (3,439 €/m2), Algarve (3,139 €/m2), Península de Setúbal (2,596 €/m2), Região Autónoma da Madeira (2,500 €/m2), and Área Metropolitana do Porto (2,305 €/m2) recording values higher than the national level.

From 1975 to 2026, there was a downward trend in electoral participation, despite the recovery seen in elections in recent years. When breaking down the types of elections held since 1975 – presidential, legislative, local and European – the average participation between 1975 and 2026 was highest in elections to the Assembly of the Republic (65.4%) and lowest in elections to the European Parliament (40.8%).

Considering all national elections in Portugal from 1975 to 2026, the average electoral participation rate for the population residing both in Portugal and abroad was 58.5%. This figure rises to 61.2% when considering only the registered and voting population residing in Portugal.

The implicit interest rate for all housing loan agreements increased, for the first time since January 2024, from 3.079% in February to 3.088% in March. For the contracts that were closed in the previous three months, the interest rate decreased from 2.871% to 2.830%. The average value of owed capital increased 584 Euros, reaching 77,078 Euros. The average value of loan repayments increased 5 Euros to 402 Euros, 4 Euros above the value observed in March 2025. In the last month, interest represented 48.8% of the average repayments. In the contracts signed in the last 3 months, the average value of loan repayments increased 5 Euros from the previous month to 700 euros (15.9% higher than in the same month of the previous year).  

In March, the Industrial Producer Price Index (IPPI) halted a sequence of 14 consecutive months of declines, recording a year-on-year rate of change of 0.0%, which represents a marked improvement compared to the 3.5% decrease observed in the previous month. This development was mainly driven by energy prices; excluding this component, the IPPI posted a marginal increase of 0.1% (-0.2% in February).

In the first quarter of 2026, industrial producer prices decreased by 1.9% (-3.2% in the previous quarter).

The month-on-month rate stood at 2.3%, reversing the 1.3% decline recorded in March 2025.

In March 2026, there were 10,504 deaths, 337 more (+3.3%) than in the previous month. Compared to the same month of 2025, there was a decrease of 590 deaths (-5.3%). The number of deaths of children under 1 year of age was 18, two more than in March 2025.

In the first quarter of 2026, there were 34,328 deaths on national territory, 768 (+2.3%) more than in the same period of 2025.

In February 2026, 6,450 live births were registered, 948 less (-12.8%) than in January 2026, but 33 more (+0.5%) compared to the same month of 2025.

In February 2026, the natural balance was -3,708, having improved in relation to the same month of 2025, when it reached -3,756.

In February 2026, 1,601 marriages were celebrated, 62 less (-3.7%) than in January 2026 and 67 less (-4.0%) than in February 2025.

Between 2020-2022, 42.5% of enterprises developed some form of innovation activity, compared with 44.7% between 2020-2022, 48.0% between 2018-2020, and 32.4% between 2016-2018. By type of innovation, 24.3% of enterprises introduced product innovation (goods or services) and 37.6% introduced process innovation (22.6% and 40.4%, in the same order, in the 2020-2022 period).

The incidence of innovation varies significantly with enterprise size: 78.7% of enterprises with 250 or more persons employed were innovative, while in the 10 to 249 persons employed breakdown, the percentage of enterprises with innovation activities was 41.7%. By economic activity, the Information and communication sector (68.9%) had the highest proportion of innovative enterprises, followed by Financial services (59.7%), Distributive trade (45.4%) and Manufacturing and energy (45.1%).

In the same period, 59.6% of innovative enterprises introduced innovations with environmental benefits obtained in the enterprise and/or during the consumption or use of the goods or services by the end user, of which 57.3% were innovations with environmental benefits obtained in the enterprise and 48.7% were innovations with benefits obtained during the consumption or use of the goods or services by the end user.

8.4% of enterprises were both innovative and cooperated with other enterprises or organizations in R&D or other innovation activities between 2022-2024.

In 2024, the total expenditure on innovation activities reached 4,865 million euros, 25.3% more than in 2022. This result represented around 1,0% of total turnover from enterprises (the same proportion in 2022).

14.9% of enterprises' turnover in 2024 resulted from the introduction of new or improved products (-0.3 p.p. compared to 2022), with 11.9% resulting from the introduction of new goods or services for the enterprise and 3.0% from the introduction of new goods or services for the market (10.8% and 4.4% in 2022, respectively).

Between 2022-2024, 62.6% of enterprises considered a strong focus on high-quality (quality leadership) to be of high importance as a strategy for their economic performance.

See the infographic

In February 2026, 4.5 million passengers and 19.2 thousand tonnes of freight and mail were handled at national airports, corresponding to year-on-year variations of +3.3% and +0.6%, respectively (+4.0% and -1.6%, in the previous month, in the same order).

In that month, there was a daily average of 81.2 thousand passengers disembarked, higher than the 78.6 thousand recorded in February 2025, which represents an increase of 3.3%.

Considering the first two months of 2026, Spain was the main country of origin of flights, followed by France and the United Kingdom. As the main destination, the United Kingdom ranked first, followed by Spain and France.

Consult the information on the Interactive Application (available only in Portuguese).

The Index of Production in Construction increased 0.4% in year-on-year terms (3-month moving average, working days and seasonally adjusted) in February, lower 1.0 percentage points from January.

The employment and wages indices grew 2.1% and 6.5% in February, respectively (2.8% and 7.8% in the previous month).

The Consumer Price Index (CPI) annual rate increased to 2.7% in March 2026 (2.1% in February). This acceleration is almost entirely explained by the increase in the prices of fuels. The annual core inflation rate, which excludes energy and unprocessed food, presented a rate of change of 2.0% (1.9% in the previous month). The annual rate of change for energy products increased to 5.7% ( -2.2% in February), and the rate for unprocessed food presented a rate of change of 6.4% (6.7% in the previous month). 

The CPI monthly rate was 2.0% (0.1% in the previous month and 1.4% in March 2025), while the CPI 12-month average rate was 2.3% (the same value as in January). 

In March 2026, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate was 2.7% (2.1% in the previous month). This rate is 0.2 percentage points (p.p.) above the rate estimated by Eurostat for the Euro area (in February, this difference was the same). Excluding energy and unprocessed food products, the Portuguese HICP increased 2.0% in March (the same value as in February), below the corresponding rate for the Euro area (estimated at 2.2%).

In February, the Turnover Index in Services increased by 0.9% year-on-year in nominal terms, representing a deceleration of 0.3 percentage points compared to the previous month. In real terms, the deflated index declined by 2.0%, following a year-on-year decrease of 2.2% in January.

The monthly rate of change of the nominal index in February stood at -0.9% (1.5% in the previous month).

The employment index slowed to a 1.6% year-on-year variation (from 2.3% in the previous month), while the earnings index maintained the 8.0% growth rate recorded in January.