Annual national accounts - Year 2020

In 2020 GDP at current prices decreased by 7.9% (to 1,653,577 million euro) compared with the previous year. The chained volume measure of GDP fell by 8.9%.

Gross fixed capital formation decreased in volume by 9.2%, final consumption expenditure by 7.8%, exports by 14.0% and imports of goods and services by 12.9%.

National demand (excluding changes in inventories) has contributed to GDP decrease by 7.8 percentage points, net exports by 0.8 points and changes in inventories by 0.4 percentage points.

Value added in volume reduced in agriculture, forestry and fishing (-6.3%), in mining and quarrying, manufacturing and other industrial activities (-10.9%), in constructions (-6.4%) and in services activities (-8.3%).

General Government net borrowing was 158,441 million euro: -9.6% of GDP, compared with -1.5% in 2019.

Primary balance (General Government net borrowing net of interests) was -6.1% of GDP (+1.8% in 2019).