GDP

Gross Domestic Product - quarterly data

Gross Domestic Product - annual data


The Central Statistical Bureau (CSB) has carried out the revision of annual national accounts data for 2011–2014.

GDP data revisions are carried out if non-conformities with the requirements of the methodology are identified when carrying out more in-depth GDP calculations and/or the information used for the calculations is adjusted.

There was an additional requirement included in the National Programme of Statistical Information for 2016 to carry out the experimental calculation of the GDP and value added of cities under state jurisdiction, and publish the results thereof.

While carrying out the calculations of GDP and value added at such a level of detail for the first time and then analysing the acquired results, it was established that the applied calculation methods had discrepancies with the requirements of the methodology, which were not identified during the analysis of data at a higher level (regional and national level). Thus, there was a need to not only update the results of the experimental calculation of GDP and value added of cities under state jurisdiction, but also at the level of statistical regions and the whole country.

Process tables are being gradually implemented in annual national accounts. The respective tables make it possible to balance the annual GDP results at a more detailed level than before, thus, eliminating the discrepancies between the indicators of various GDP approaches.

As a result of the revision, the value added of the production approach was increased, having an effect on the overall GDP assessment. In other approaches of GDP, all of the changes affected only the balance positions: changes in inventories (GDP from the expenditure approach), as well as gross operating surplus and mixed income (GDP income approach).

Annual GDP changes in comparison to the previously published national account data

Factors affecting the changes at current prices

 

2011

2012

2013

2014

Adjustment of data used for GDP calculations and improvement of calculations

mln EUR

 

 

-124

-116

%

 

 

-0.5

-0.5

Improvement of the GDP balancing process

mln EUR

+33

+37

+137

+140

%

+0.2

+0.2

+0.6

+0.6

Overall changes

mln EUR

+33

+37

+12

        +23

%

+0.2

+0.2

+0.1

+0.1

 

Annual data on Gross Domestic Product are available in the CSB database.

Database short-term statistics tables are gradually restructured, changes will be made in February or March 2016. Henceforth, when selecting values, indicator grouping by period will not be separated (year, quarter, and month), but merged in one dimension (year/quarter or year/month). Henceforth time dimension structure will be made in compliance with PX-file format specification (timeval).