Statistical Institute Reports 3.5 Per Cent Growth of GDP in Third Quarter of 2016
Wednesday, 16 November 2016
In the third quarter of 2016 the gross domestic product (GDP) increased by 3.5 per cent year-on-year and by 0.8 per cent compared to Q2, according to seasonally adjusted data, National Statistical Institute said Tuesday, releasing snap estimates.
In nominal terms, the GDP in the third quarter of 2016 was 24,631 million leva. The Q3 added value was 21,168 million leva.
End consumption increased by 1 per cent, totalling 17,160 million leva, and continued to account for the biggest share of the GDP, 69.7 per cent. The Q3 gross fixed capital formation increased by 4 per cent, totalling 4,508 million leva, and accounted for 18.3 per cent of the GDP.
A foreign trade surplus was reported for the third quarter of the year. Export and import of goods and services increased by 8.5 per cent and 3.9 per cent, respectively.
The gross value added increased by 0.7 per cent in the third quarter compared to the second. Year-on-year the Q3 gross value added increased by 2.5 per cent.