Be the first to comment!GDP went up by 4.3% in Q3, or 1.9% in real terms on 2011
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Provisional estimates indicate that the Gross Domestic Product (GDP) for the third quarter amounted to €1,801.3 million, an increase of 4.3 per cent compared to the corresponding period last year. In real terms, GDP went up by 1.9 per cent.
The Production Approach
During the third quarter, growth in gross value added was generated by the following economic activities: wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities; professional, scientific and technical activities; public administration and defence; compulsory social security education; human health and social work activities; financial and insurance activities; mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply; sewerage, waste management and remediation activities; arts, entertainment and recreation; repair of household goods and other services; information and communications; agriculture, forestry and fishing; and real estate activities. A drop in gross value added was registered in construction.
The Expenditure Approach
Total final consumption expenditure in nominal terms increased by 3.9 per cent. In real terms, total final consumption expenditure went up by 1.1 per cent. Gross fixed capital formation increased by €26.1 million in nominal prices, and by 2.2 per cent in real terms. Both real exports and real imports increased.
The Income Approach
Compared to the corresponding quarter last year, the increase in GDP at current prices amounted to €74.6 million, and is estimated to have been distributed into a €38.6 million increase in compensation of employees, a €41.9 million increase in gross operating surplus of enterprises, and a €5.9 million decrease 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 third quarter this year is estimated at €1,662.5 million.
