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Macroeconomics

An overview


Macroeconomic values describe the structure of an economic system and its ability to grow. 

Economy available resources (Gdp and import) may be used to purchase goods for consumption, for fixed capital formation and for export, i.e. consumption, fixed capital formation and exports are the three components of the aggregate demand.

 

The Gdp per capita increased for the third consecutive year in 2017, and grew by 1.7% (-7.9% since 2007).
Sales on foreign markets remained highly concentrated in the Center-North regions which produced 88.1% of exports, while the South and Islands area was at 10.5% of exports to international markets. In 2016 the share of domestic final consumption to Gdp recorded a slight decrease for the 4th consecutive year; on the other hand the growth in the share of investments has continued since 2015.

 

Labour productivity for the whole economy has increased by 1.8% between 2010 and 2016. During the past year it has decreased by 0.4%, due to the growth of the added value (+1.1%) inferior to the labour input (+1.6%).

 

In 2018 the increase of the national index of consumer prices kept stable at 1.2%. Inflation was pulled  by goods and services of high  revelance in households' expenses.

The decrease in house prices started again in 2017 after a minor increase during the previous year.  The reduction is attributable both to the price dynamics of the existing houses and of the new constructions.