In 2013, according to the final Annual National Accounts, the Gross Domestic Product (GDP) was 170.3 thousand million Euros. This value corresponds to a nominal increase of 1.1% and a real decrease of 1.1% when compared to 2012. The contribution of the domestic demand to the real change of GDP was negative (-2.0 percentage points, p.p.), while the net external demand contribution was positive (0.8 p.p.), as a result of a lower increase in imports (+4.7%) when compared to the exports (+6.9%). The external balance of goods and services was positive for the first time in this series, going from -855 million Euros (-0.5% of GDP) in 2012 to +1 711 million Euros (1.0% of GDP) in 2013.
The final results for 2013 represent an upward revision of the GDP by 0.5%. For 2014, reflecting this revision and the incorporation of the latest information concerning the General Government sector and international trade in goods and services, the GDP was also revised upwards by around 0.2%.