Algarve’s GDP drops more than national average for 2012

More grist to the anti-tolls mill… now we hear that the GDP for the Algarve has dropped “more than the national average in 2012”.

The news comes from INE (the national statistics institute) which reports that the greatest falls in GDP took place in Madeira (7.1%), the Centre (4%), the Algarve (3.5%) and the Alentejo (3.4%) -while the national average is only 3.2%.

The best performing region in all the gloom was the north, where GDP dropped only 2.6% last year.

And as for disposable income among families, that too came in for a pasting in 2013 – receding 1.4% from figures from the year before “with most regions contributing negatively”, reports INE. The only area where this did not happen was Lisbon, where disposable income was actually up 0.1%.