(Flash estimates)
The Gross Domestic Product (GDP) expanded 0.4% in the first quarter of 2013 over the same quarter of the previous year and 0.1% compared with the fourth quarter of 2012.
GDP in monetary terms, current prices
According to the flash GDP estimates for the first quarter of 2013, the GDP at current prices amounted to 16 161 Million Levs.
GVA at current prices amounted to 13 708 Million Levs. The services sector has the largest share (63.4%) in total value added, followed by industrial sector (31.9%) and agricultural sector (4.7%).
In the structure of GDP by the expenditure approach the largest share has the final consumption (85.7%), which in nominal terms amounted to 13 851 Million Levs. In the first quarter of 2013 gross fixed capital formation is 2 910 Million Levs and has a share of 18.0% in GDP. The external balance (exports minus imports) has a negative sign.
Growth rate of GDP, total and by components
Quarter-on-quarter growth rates
According to the seasonally adjusted data1, the GDP growth rate in the first quarter of 2013 has an increase of 0.1% compared with the previous quarter. In the first quarter of 2013 gross value added of the total economy remains at the same level.
According to flash estimates of GDP by final expenditure in the first quarter of 2013 major contribution to the growth registered have the gross fixed capital formation increased by 2.4%. Collective consumption increases its level with 0.9% in the first quarter of 2013. The exports of goods and services increase over the previous quarter by 1.8%.
Growth rates on annual basis
During the first quarter of 2013 GDP increased by 0.4% compared to the same quarter of the previous year. Gross value added increased by 0.3%. An increase is recorded in the agricultural sector (3.3%), industry (1.3%) and the services sector (0.3%).
As regards the expenditure components of GDP, the final consumption registered a positive economic growth of the collective consumption by 3.0% compared to the same quarter of the previous year. Gross fixed capital formation recorded increase by 4.8% compared to the same quarter of the previous year. Exports and imports of goods and services increased by 8.9 and 4.4%.
Source: National Statistical Institute