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The chapter presents the aggregates on gross domestic product (GDP) and components thereof as well as provisional information for 2022.

Every year, 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 2022, GDP at current prices amounted to EUR 67.4 billion. Compared to 2021, the real GDP change stood at 2.4 per cent. The revised 2021 GDP amounted to EUR 56.5 billion, having increased by 6.3 per cent as compared to the previous period.

As for GDP estimated by production approach, in 2022, the real GDP growth was mainly determined by an increase in gross value added (GVA) in manufacturing activities (4.4 per cent), which have the largest weight in generating value-added. Brisk GVA growth was recorded for enterprises engaged in professional, scientific and technical (15.9 per cent), information and communication (15.9 per cent), administrative and support services (9.1 per cent), financial and insurance (8.9 per cent) activities. In 2022, enterprises engaged in accommodation and food service activities recorded the fastest growth in GVA (25.8 per cent), followed by those engaged in arts, entertainment and recreation activities (18.3 per cent). 

Among the components of GDP estimated by expenditure approach, imports and exports of goods and services had the highest rate of growth in 2022 (12.4 and 12.2 per cent respectively), while gross fixed capital formation grew by 3.6 per cent and household final consumption expenditure increased by 2.0 per cent. 

As for GDP estimated by income approach, in 2022, significant growth was recorded in compensation of employees (16.3 per cent at current prices). Taxes on production and products increased by 15.4 per cent, while subsidies on products and production, compared to the pandemic year 2021, increased by 16.8 per cent.

In terms of GDP structure by production approach, in 2022, the most significant increase was recorded in the share of value added generated by electricity, gas, steam and air conditioning supply activities (from 1.6 per cent in 2021 to 2.4 per cent in 2022), and agriculture, forestry and fishing activities (from 3.8 per cent in 2021 to 4.4 per cent in 2022), while wholesale and retail trade activities had the most notable decrease (from 16.4 per cent in 2021 to 15.6 per cent in 2022). In terms of GDP estimated by expenditure approach, significant increase was observed for the share of exports (from 80.1 per cent in 2021 to 86.8 per cent in 2022) and imports (from 75.6 per cent in 2021 to 88.9 per cent in 2022) of goods and services, while the share of general government final consumption expenditure decreased from 17.6 per cent in 2021 to 16.8 per cent in 2022. Regarding the components of the GDP income approach, a decrease has been observed in the share of compensation of employees, having fallen from 47.7 per cent in 2021 to 46.5 per cent in 2022, while the share of the net operating surplus increased from 30.3 per cent in 2021 to 33.2 per cent in 2022.

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.