Real GDP grew strongly in the first three quarters of 2017 and continued to surprise on the upside, reaching 7.2%. The external sector, driven by growing services exports, remained the main driver of growth in 2017. Domestic demand was affected by a strong contraction in investment, linked to a high base effect from an extraordinary investment in transport equipment in 2016. Residential construction, by contrast, continued to increase robustly.

Indicators 2016 2017 2018 2019
GDP growth (%, yoy) 5,5 6,9 5,6 4,5
Inflation (%, yoy) 0,9 1,3 1,5 1,8

Documents

DownloadPDF - 90.7 KB