In Q4 2017, GDP in volume terms increased again: +0.6%, after +0.5% in Q3. On average over the year, GDP accelerated markedly: +1.9% after +1.1% in 2016.

Total gross fixed capital formation (GFCF) accelerated slightly (+1.1% after +0.9%) while household consumption expenditure slowed down (+0.3% after +0.6%). Overall, final domestic demand excluding inventory changes contributed to GDP growth by +0.5 points in Q4 2017 (after +0.6 points).

Foreign trade balance contributed positively to GDP growth (+0.6 points after −0.5 points): exports accelerated markedly (+2.6% after +1.1%) while imports slowed down sharply (+0.7% after +2.4%). Conversely, changes in inventories contributed negatively (−0.5 points after +0.3 points).