Provisional estimates indicate that the Gross Domestic Product (GDP) for the second quarter amounted to €1,513.4 million, an increase of 6.8 per cent compared to the corresponding period last year. In real terms, GDP went up by 3.9 per cent.

The Production Approach

Growth in value added was generated by the following economic activities: financial intermediation; electricity, gas and water supply; other community services; construction; hotels and restaurants; education; manufacturing sector; health; real estate, renting and business activities; public administration and wholesale and retail trade.

Declines in value added were registered in agriculture and fishing; mining and quarrying and in transport, storage and communication.

The Expenditure Approach

The measurement of GDP from the expenditure approach indicates that GDP at constant prices increased by 3.9 per cent. Total final consumption expenditure in real terms rose by 1.4 per cent. Gross fixed capital formation at constant prices increased by 1.6 per cent. Real exports and real imports experienced increases.

The Income Approach

The annual change in GDP at current prices, amounting to €96.2 million, is estimated to have been distributed into a €7.8 million increase in compensation of employees, a €109.0 million rise in gross operating surplus of enterprises, and a €20.6 million decline in net taxation on production and imports.

Gross National Income

Considering the effects of income and taxation paid and received by residents to and from the rest of the world, Gross National Income (GNI) at market prices for the second quarter of the year is estimated at €1,446.6 million.

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