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The chapter presents the aggregates on gross domestic product (GDP) and components thereof as well as provisional information for 2021.

Each year, the time series of the GDP aggregates are revised based on information of the latest or revised data sources, and the provisional indicators of national accounts of the previous year are estimated.

In 2021, GDP at current prices amounted to EUR 56.2 billion. Compared to 2020, the real GDP change stood at 6.0 per cent. The  revised 2020 GDP amounted to EUR 49.8  billion. Compared to the previous period, the change made up -0.0  per cent.

As for GDP estimated by production approach, in 2021, the GDP growth (at constant prices) was mainly determined by an increase in gross value added (GVA) in the country’s most value-added sectors: manufacturing (11.6 per cent); wholesale and retail trade; repair of motor vehicles and motorcycle (5.9 per cent), and transportation and storage (3.0  per  cent) activities. Fast growth was recorded for GVA generated in enterprises engaged in administrative and support service (16.9 per cent), professional, scientific and technical (12.4 per cent), information and communication (8.8 per cent), financial and insurance (13.0 per cent) activities, as well as in accommodation and food service activities (19.6 per cent), which were most affected by the pandemic in 2020. 

As for GDP estimated by expenditure approach, the fastest growth in 2021 was recorded for imports (19.9 per cent) and exports (17.0 per cent) of goods and services, and recovery after the pandemic year 2020 was observed for household final consumption expenditure and gross fixed capital formation which grew by, respectively, 8.1 and 7.8 per cent in 2021. 

As for GDP estimated by income approach, in 2021, the rapid growth of compensation of employees was recorded (13.2  per  cent at current prices). Taxes on production and products increased by 16.3 per cent, while allocations of subsidies for production and products, compared to the pandemic year 2020, decreased by 10 per cent.

There have been no significant changes in terms of GDP structure by production approach observed since 2020 – the most significant increase was recorded in the share of value added generated by manufacturing activities (from 17.4  per  cent in 2020 to 18 per cent in 2021), decrease – wholesale and retail trade activities (from 16.9 per cent in 2020 to 16.3 per cent in 2021). In terms of GDP estimated by expenditure approach, significant increase was observed for the share of exports (from 73.3 per cent in 2020 to 80.5 per cent in 2021) and imports (from 63.9 per cent in 2020 to 76.0  per  cent in 2021) of goods and services, while the share of general government final consumption expenditure decreased from 18.5 per cent in 2020 to 17.5 per cent in 2021. In the structure of components of the GDP income method, a further increase in the share of compensation of employees has been observed (from 47.9 per cent in 2020 up to 48.0 per cent in 2021). The most significant change was recorded for the share of gross fixed capital expenditure – it decreased from 13 per cent in 2020 to 12 per cent in 2021.

GDP in the whole economy
At constant prices (chain-linking method) 

EUR million

The latest and detailed data are available in the Database of Indicators

Real GDP change
Compare to the previous period

Per cent

The latest and detailed data are available in the Database of Indicators

GDP per capita
At current prices

EUR

The latest and detailed data are available in the Database of Indicators

For further terms, see the Dictionary of Statistical Terms.