Statistical Institute Reports 3.4 Per Cent Growth of GDP in Fourth Quarter of 2016
Wednesday, 15 February 2017
In the fourth quarter of 2016 the gross domestic product (GDP) increased by 3.4 per cent year-on-year and by 0.9 per cent compared to Q3, according to seasonally adjusted data, National Statistical Institute said Tuesday, releasing snap estimates.
In nominal terms, the GDP in the fourth quarter of 2016 was 25,361 million leva. The Q3 added value was 21,740 million leva, increasing by 3.1 per cent year-on-year.
In Q4, end consumption increased by 0.9 per cent year-on-year, totalling 20,600 million leva, and continued to account for the biggest share of the GDP, 81.2 per cent. The Q4 gross fixed capital formation decreased by 1.5 per cent year-on-year, totalling 5,431 million leva, and accounted for 21.4 per cent of the GDP.
A foreign trade deficit was reported for the fourth quarter of the year. Export and import of goods and services increased by 9.1 per cent and 7.8 per cent, respectively, year-on-year.