GDP and general government net borrowing - Year 2023

In 2023 GDP at current prices grew by 6.2% (to 2,085,376 million euro) compared with the previous year. The chained volume measure of GDP increased by 0.9%.

Gross fixed capital formation, final consumption expenditure and exports rose in volume by 4.7%, 1.2% and 0.2% respectively; imports of goods and services decreased by 0.5%.

National demand (excluding changes in inventories) has contributed to GDP growth by 2.0 percentage points and net exports by 0.3 points. The contributions of changes in inventories was negative by 1.3 percentage points.

Value added in volume increased by 3.9% in construction and by 1.6% in services, while it decreased in agriculture, forestry and fishing (-2.5%) and in mining and quarrying, manufacturing and other industrial activities (-1.1%).

General Government net borrowing was -149,475 million euro: -7.2 % of GDP, compared with -8.6 % in 2022.

Primary balance (General Government net borrowing net of interests) was -3.4% of GDP (-4.3% in 2022).