In 2016, according to the final Annual National Accounts, the Gross Domestic Product (GDP) attained 186.5 thousand million Euros, which represents annual change rates of 3.7% and 1.9% for nominal and real GDP, respectively (3.9% and 1.8% in the previous year). The Household Final Consumption Expenditure and Exports had the largest contributions to GDP change, by 0.9 p.p. (percentage points) each. The Gross National Income (GNI) grew by 4.2% in 2016 (2.8% in the previous year). The net lending increased from 0.3% of GDP in 2015 to 1.0% in 2016.
The final result for 2016 represents an upward revision of GDP of 0.5% (0.3 p.p. in volume and 0.2 p.p. in deflator). The GDP for 2017 is revised by 0.8% to 194.6 thousand million Euros. This revision largely reflects the impact of the 2016 revision and, to a lesser extent, the use of additional information, which determined an upward revision of 0.1 pp of the rate of change in volume of GDP to 2.8% and the deflator by 0.2 p.p., to 1.5%.