Annual national accounts

The National Institute of Statistics releases the estimates of Gross Domestic Product (GDP) and General Government debt in accordance with the definitions of the European System of Accounts (ESA 2010) and Council Regulation (EC) n° 549/2013.

In 2014, GDP at current prices increased by 0.4% (to 1,613,859 million euro) compared with the previous year.

The chain-link volume measure of GDP decreased by 0.4%, after a fall by 1.7% in 2013.

The decrease in GDP was due to a contraction in Gross fixed capital formation (-3.5%) while Final consumption expenditure increased slightly (0.1%). Imports increased by 2.9% and export by 3.1%.

General Government net borrowing was -49,038 million euro (-3.0% of GDP), compared with -2.9% of GDP in the previous year, while General Government debt went up to 2,134,906 million euro (132.3% of GDP).

In 2014 the gross Consumer Households saving rate (defined as gross saving divided by gross disposable income, with the latter being adjusted for the change in the net equity of households in pension funds reserves) was 8.7%, compared with 9.1% in 2013.

The gross profit share of Non-financial Corporations (defined as gross operating surplus divided by gross value added) was 40.1% in 2014, compared with 41% in 2013.

Next release: March 2016