In the third quarter of 2019 gross domestic product (GDP) increased by 2.3% over the third quarter of 2018. In the first 9 months of 2019 it increased by 2.7% over the same period of 2018.
Higher growth of domestic expenditure
Domestic expenditure increased by 3.8% in the third quarter of 2019. Both components – final consumption expenditure and gross capital formation – had a positive impact on high domestic expenditure. Final consumption expenditure increased by 3.7%. Among final consumption expenditure the increase in household final consumption was more prominent; it went up by 4.3%.
Gross capital formation increased by 4.4%, of which changes in inventories had a positive contribution. Gross fixed capital formation increased by 1.2%, which is moderate growth compared to previous quarters. A negative contribution was observed among investment in non-residential construction, which decreased by 3.3%. Gross capital formation in transport equipment also decreased (by 6.9%). On the other hand, gross fixed capital formation in other machinery and equipment grew by 4.3% and investment in residential buildings by 9.7%.
Higher growth of imports than exports
Exports increased by 4.5% compared to the same quarter of 2018, which is similar growth as in the previous two quarters of 2019 (4.9% and 5.0%). Imports increased more (by 6.7%), which is also higher growth than in the previous two quarters of 2019 (3.9% and 4.9%).
Total employment up by 2.3%
In the third quarter of 2019 total employment was 1,051.328 persons and increased by 2.3% (by 23,420 persons) over the third quarter of 2018. Most people were newly employed in manufacturing, construction, trade, transport, and professional, scientific and technical activities.
Revision of annual and quarterly GDP
Due to different accounting of major transaction of imports and exports, the data on GDP will be revised. The data on annual GDP will be revised for 2017 and 2018, but the data on quarterly GDP will be revised for 2016–2018. The revised data will be published on 28 February 2020.
Unless otherwise specified, all comparisons in this text refer to original data, to volume or real changes and to changes compared with the same quarter of the previous year.
More detailed data
More detailed data including time series are available in the SiStat Database.
Gross domestic product, constant prices, growth rates (%)
Gross domestic product by expenditures, constant prices, growth rates (%)
1) As contribution to GDP volume growth (in percentage points).
Value added by activities and gross domestic product, constant prices, growth rates (%)