The overall economy presented in 2021 a net borrowing of 10 billion euros in relation to abroad, compared to 9.9 billion euros in 2020.
The disposable income of households increased by 8.2% last year and non-profit organizations serving households, from €118.4 billion in 2020 to €128.1 billion. However, final consumer spending fell by 6.8% in 2021 compared to 2020, from €115.6 billion to €123.4 billion. Thus, the savings rate, defined as gross savings to gross disposable income, was 3.7% in 2021 versus 2.4% in 2020.
At the same time, from the data for the annual non-financial accounts of ELSTAT’s institutional sectors, the following emerges:
The investment ratio of the non-financial corporations sector, defined as gross fixed capital formation to gross value added, was 20.5% in 2021 compared to 19.5% in 2020.
Last year a deficit was recorded in the external balance of goods and services amounting to 14 billion euros compared to a deficit of 12.7 billion euros recorded in 2020. Specifically in 2021, imports of goods and services amounted to 88.3 billion euros and exports of goods and services to 74.3 billion euros.
Finally, the overall economy presented in 2021 a net borrowing of 10 billion euros in relation to abroad, compared to 9.9 billion euros in 2020.
RES-EMP
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I have worked in the news industry for over 10 years and have been an author at News Bulletin 247 for the past 5 years. I mostly cover technology news and enjoy writing about the latest gadgets and devices. I am also a huge fan of music and enjoy attending live concerts whenever possible.
