Provisional estimates indicate that the Gross Domestic Product (GDP) for the third quarter amounted to €2,097.8 million, an increase of 5.3 per cent over the same quarter last year. In real terms, GDP went up by 3.8 per cent.

During the third quarter growth in gross value added was mainly generated by public administration and defence; education; human health and social work activities; professional, scientific and technical activities; administrative and support service activities; wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities. Drops were registered in manufacturing, financial and insurance activities.

Total final consumption expenditure in nominal terms increased by 3.7 per cent. In real terms, total final consumption expenditure increased by 3.8 per cent. Gross fixed capital formation increased by €12.7 million in nominal prices and by 4.6 per cent in real terms. Real exports and real imports increased.

Compared to the corresponding quarter last year, GDP at current prices went up by €106.1 million, with an increase of €43.9 million in compensation of employees, a €28.2 million increase in gross operating surplus of enterprises, and a €34.0 million increase in net taxation on production and imports.

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 is estimated at €2,069.1 million.

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