The revision of GDP for the year 2022 compared to the first estimate for the same year announced in March 2023 is mainly due to the incorporation of the Household Budget Survey 2022 data, as well as the updated General Government data on public final consumption, subsidies and taxes on products.
The figures of the General Government that have been significantly revised are the subsidies on energy-related products, due to their recording on consumption basis (following Eurostat's guidance), against the cash basis approach that was used in the first estimate of GDP.
According to the revised data the Gross Domestic Product (GDP) of the year 2022 at current prices increased by 13.8% in comparison with the year 2021. The final consumption expenditure of the year 2022 at current prices increased by 12.0% in comparison with the year 2021.
The imports of goods and services of the year 2022 at current prices increased by 37.6% in comparison with the year 2021. The exports of goods and services of the year 2022 at current prices increased by 36.6% in comparison with the year 2021.
It is noted that in the framework of the Gross National Income (GNI) verification cycle, the works continue for the further improvement of the sources and methods for estimating national accounts data.
The GNI verification cycle is carried out by the European Statistical Office (Eurostat) in all member-states of the European Union in accordance with Regulation (EU) 2019/516 on the harmonisation of Gross National Income at market prices.
