In Q4 2017, GDP in volume terms rose again: +0.6% after +0.5%. On average over the year, GDP accelerated markedly in 2017: +2.0% after +1.1% in 2016.

Total gross fixed capital formation (GFCF) slightly accelerated (+1.2% after +0.9%) while household consumption expenditures slowed down (+0.2% after +0.6%). Overall, final domestic demand excluding inventory changes contributed by +0.5 points to GDP growth in Q4 2017 (after +0.6 points).

Foreign trade balance contributed positively to GDP growth (+0.6 points after −0.4 points): exports accelerated sharply (+2.4% after +1.0%) while imports significantly slowed down (+0.3% after +2.2%). Conversely, changes in inventories contributed negatively (−0.4 points after +0.3 points).