According to the statistics office, the positive contribution of domestic demand to the year-on-year GDP growth increased, "reflecting the acceleration of Investment and Private Consumption".

On the other hand, the negative contribution of net external demand intensified in the first quarter of the year, with imports of goods and services rising more than exports, which nevertheless recovered.

As for the quarter-on-quarter variation, i.e., compared to the previous quarter, net external demand shifted from a positive to a negative contribution, with a larger increase in imports than in exports.

The opposite occurred in domestic demand, which turned positive due to a significant increase in investment.

These economic growth figures confirm the preliminary estimate released by the INE at the end of April.

For the year as a whole, the Government had estimated growth of 2.3% in the 2026 State Budget, but has since revised the forecast to 2%, due to the impact of the storms and the conflict in the Middle East.