According to the Regional Accounts released by the National Institute of Statistics (INE), "it is estimated that the Alentejo (1.1%) and the Autonomous Region of Madeira (1.5%) registered the weakest performances" compared to the country's real growth, which stood at 2.1% in 2024.

"In the rest of the territory, the evolution was close to the national average, with the Center matching the country, the West and Tagus Valley, Greater Lisbon and the Setúbal Peninsula slightly exceeding (0.1 percentage point - p.p.) the national average", and the other regions (North, Algarve and Azores) showed "growth 0.2 p.p. higher than the country".

In terms of real growth, "in the North, Central and West regions and the Tagus Valley, economic dynamism resulted mainly from the growth of the GVA [Gross Value Added] of industry and energy (2.8%, 3.2% and 4.1%, respectively), accompanied by the performance of the GVA of commerce, transport, accommodation and catering, with volume increases of 1.8% in the North and West and Tagus Valley and 2.6% in the Central region".

Meanwhile, the GDP of Greater Lisbon "benefited from the growth of the GVA of information and communication activities (4.2%), financial and insurance activities (3.6%) and commerce, transport, accommodation and catering (2.0%), all with variations above the national average".

The "trade, transport, accommodation and catering" sector had a significant impact on the GVA of the Algarve and the Autonomous Region of the Azores, with growth of 1.7% and 4.1% respectively (contributions of 0.7 p.p. and 1.1 p.p.), and in these two regions GDP also benefited "from the growth in GVA of industry and energy (9.9% and 6.4%, respectively) and agriculture, forestry and fishing (8.9% and 7.1%, in the same order)".

In the Setúbal Peninsula, GDP growth "was mainly driven by the increase in GVA in the trade, transport, accommodation and catering sector (3.7%), whose contribution to the regional variation was 0.9 p.p.", and in the Alentejo "the less significant GDP growth was due to the reduction in GVA of industry and energy (-2.3%), real estate activities (-2.1%) and trade, transport, accommodation and catering (-0.6%)".

Meanwhile, GDP growth in Madeira, lower than the national average, "was constrained by the reduction in GVA of services provided to companies (-4.4%), associated with lower activity in the Madeira International Business Centre, and by the decrease in GVA of public administration, defense, health and education (-0.3%)".