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Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Portuguese companies’ gross value added (GVA) rose 6.8% in 2024, in nominal terms, though growth slowed by 7.2 percentage points from 2023. Construction and real estate activities recorded the fastest increase among the leading sectors highlighted in the results, but the figures show a sector growth pattern—not that construction alone caused Portugal’s wider business expansion.
What grew fastest in 2024?
In its summary of Statistics Portugal (INE) results, Portugal’s Directorate-General for Economy (DGE) reported nominal GVA growth of 13.1% for the combined category of construction and real estate activities. Other leading sectors also grew strongly: accommodation and food services rose 10.9%, other services 10.8%, and information and communication 10.4%. DGE’s summary of INE’s 2024 company results groups these four sectors as contributing 4.7 percentage points collectively to total GVA growth; that contribution is not attributable to construction alone.
GVA measures the value generated through production after subtracting intermediate inputs. It helps describe business activity, but it is not the same as revenue, profit, or the amount of construction work completed. The 6.8% company-wide and 13.1% sector figures are nominal, so they include price changes as well as changes in activity.
How large is construction’s role in the economy?
A fast growth rate does not mean a sector makes up an equally large share of the economy. Construction alone accounted for 5.0% of Portugal’s total GVA in 2024, compared with 5.8% in Spain and 5.5% across the EU-27. INE and Eurostat describe the 2023 and 2024 observations as provisional. The same publication says Portugal’s construction share rose from around 4% in 2015 to around 5% in 2024. INE’s “Península Ibérica em Números, 2025” presents the comparison on page 78.
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These measures use different boundaries: the 13.1% growth result covers construction and real estate activities together, while the 5.0% share refers to construction. They should not be presented as if they describe the same category.
What do construction production and investment figures add?
The European Construction Industry Federation (FIEC) estimated Portugal’s construction gross production value at €22.1 billion in 2024 and reported 3.0% real growth. It also reported construction investment growth of 2.3%, with public investment—supported by projects funded through the Recovery and Resilience Plan (PRR) and Portugal 2030—identified as the primary driver. FIEC’s 2025 statistical report provides these industry estimates.
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These figures complement, rather than replace, the company GVA results. FIEC’s production-value growth is stated in real terms; DGE’s company and sector GVA rates are nominal. Production value, investment, and GVA are distinct measures, so their growth rates cannot be compared as though they were calculated on the same basis.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the national results can—and cannot—show
The results establish that company GVA increased in 2024 and that construction and real estate activities were among the strongest-growing sectors. They do not identify which individual Portuguese companies expanded, explain how each firm performed, or prove that construction demand caused the overall increase in business GVA. FIEC’s account of public investment is a reported explanation for construction investment trends, not a complete causal account of company growth.
Statistics Portugal’s Annual Survey of Construction Companies is designed to collect information on construction businesses’ purchases of materials, equipment, and land, as well as the value of work by type. Its stated scope describes what the survey measures; it is not, by itself, a release of current company-level results. Statistics Portugal’s Annual Survey of Construction Companies explains that scope.
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