Gross domestic product (GDP) is one of the key indicators of the economic state and growth of a country, and it is an important factor in the adoption of economic policies. It is calculated by using three different methods – the production, the expenditure and the income approach. According to the expenditure approach, the GDP is calculated as a sum of household consumption, consumption of NPISH (non-profit institutions serving households), investments, government consumption, changes in inventories as well as net exports.

Since 2021, a continuous trend of real GDP growth can be observed, and according to the preliminary data, in 2023, as compared to 2022, the real GDP growth was 3.3%, which was a nominal increase of 15.4% compared to the previous year.

GDP per capita is the ratio of the GDP (which represents the size of the economy of a certain country) and the number of inhabitants, and it is calculated in order to compare, as objectively as possible, the size of a certain economy with those of other countries. Since 2021, there has been a continuous trend of growth of GDP per capita, which amounted to 20 239 euro in 2023, signifying an increase of 15.4% compared to 2022.

Since 2021, all the components of the expenditure approach of the GDP have shown a continuous trend of nominal growth, except the imports of goods and services. According to the individual components, household consumption still makes up the highest percentage of the total GDP, which amounted to 56.1% in 2023, followed by the category Imports of goods and services (54.8% of the total GDP in 2023).

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