Gross domestic product in the 4th quarter of 2007

more detailed data

High increase in gross domestic product  continued also in the 4th quarter. It rose year-on-year by 14,3 % at constant prices (by 11,5 % at current prices) to SKK 496,9 billion by adjusted estimation. Its real increase was by 6,1 p.p. higher than in the 4th quarter of 2006.

A year-on-year increase in gross domestic product was connected with a rise in foreign demand by 16 %. Within domestic demand, production of gross fixed capital increased by 8,9 %, final consumption of households by 5,9 % and final consumption of public administration by 0,8 %. Consumption of non-profit institutions for households rose by 9,5 % (it comprised 0,8 % of GDP).

A rise in added value in industry by 21,2 %, in public administration, education, health and other services by 11,9 % and in financial intermediation and real estates by 8,4 % influenced the production of gross domestic product. Added value was down, as compared to 4th quarter of 2006, in agriculture and fishing by 27,4 % and in construction by 1,7 %. The production of gross domestic product was influenced also by an especial increase in excise tax (laying in cigarettes). Taxes of products subtracted by subsidies on products increased by 60,9 %.

In terms of basic aggregates of incomes production at current prices, a year-on-year increase in gross domestic product was connected mostly with a rise in collected taxes of production subtracted by subsidies on production by 51,3 %, gross operation surplus and mixed incomes by 4,4 % and bonuses of employees (1) by 11,9 %.

In 2007, the production of gross domestic product reached SKK 1 851,8 billion by adjusted estimation. Compared to 2006, gross domestic product was up by 10,4 % really (by 1,9 p.p.). It rose by 11,6 % at current prices.

The employment (2) reached 2 177 thous. of persons by ESA 95, of which 1 890,5 thous. were employees. Compared to 2006, it increased by 2,1 %, there was a 1,9 % increase in the number of employees.

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Note: preliminary data according to ESA 95 methodology; data are a follow-up of the revision of annual national accounts 1995 - 2006; unless otherwise states absolute values and structure are at current prices, data on international development are from constant prices calculated by chain-linked volumes with using of reference year 2000
1) bonuses of employees are paid off by residential employers
2) according to ESA 95 - employment showed by number of employees (employees and self-employers), which are involved in production activity falling into the scope of production in the national account system. Concerning the construction of indicators of labour accounts the method of balancing is applied, i.e. supply of labour force is balanced with demand. It concerns comparison and harmonization of data from business surveys with data from Labour Force Sample Survey in households so that they correspond with definitions according to ILO and ESA 95. According to ESA, employment is expressed in domestic concept. In this concept, data are acquired from business surveys. Because of comparability, data from labour force sample surveys (surveyed on the base of national concept) are adjusted by items as number of residents working abroad, non-residents coming from abroad, family workers, women on maternity leave and the like.
p.p. percentage point

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