Annual national accounts

In 2019 GDP at current prices increased by 1.1% (to 1,789,747 million euro) compared with the previous year. The chained volume measure of GDP increased by 0.3%.

Gross fixed capital formation increased in volume by 1.6%, final consumption expenditure by 0.3% and exports by 1.0%. Imports of goods and services decreased by 0.6%.

National demand (excluding changes in inventories) has contributed to GDP growth by 0.5 percentage points and net exports by 0.5 points. The contribution of changes in inventories was negative for 0.7 percentage points.

Value added in volume increased in constructions (+1.8%) and in services activities (+0.5%). It decreased in agriculture, forestry and fishing (-1.7%) and in mining and quarrying, manufacturing and other industrial activities (-0.7%).

General Government net borrowing was -28,650 million euro: -1.6 % of GDP, compared with -2.2 % in 2018.
Primary balance (General Government net borrowing net of interests) was +1.8% of GDP (+1.4% in 2018).