In the first quarter of 2013 GDP at current prices amounts to 16 577 Million Levs. In Euro terms GDP is 8 476 Million Euro or 1 164 Euro per person. According to the seasonally adjusted data, the GDP growth rate in the first quarter of 2013 is 0.4% compared with the same quarter of the previous year and 0.1% compared with the fourth quarter of 2012.
GDP, current prices - First quarter of 2013
According to the preliminary data, the Gross Domestic Product (GDP) at current prices in the first quarter of 2013 amounted to 16 577 Million Levs. The GDP per person amounted to 2 277 Levs. In USD terms at average quarterly exchange rate of 1.482119 Levs per USD, the GDP amounted to 11 185 Million USD or 1 536 USD per person. In Euro terms, the GDP amounted to 8 476 Million Euro or 1 164 Euro per person.
Gross value added (GVA) at current prices in the first quarter of 2013 amounted to 14 104 Million Levs.
As compared with the first quarter of 2012 the agricultural sector increased its share in the gross value added in the economy by 0.9 percentage points to 4.5% in the first quarter of 2013. The share of industrial sector reaches 32.0 %, down by 0.4 percentage points. The share of services reaches 63.5% which is a decrease of 0.5 percentage points compared to the same period of the previous year.
In the first quarter of 2013 the final consumption expenditure formed 87.4% of GDP in the economy. Investments (gross fixed capital formation) accounted for 18.2% of GDP. The external balance (exports-imports) was negative.
Growth rate of GDP, total and by components
Quarter-on-quarter growth rates
According to the seasonally adjusted data, the GDP growth rate in the first quarter of 2013 increased by 0.1% compared with the previous quarter. In the first quarter of 2013 gross value added of the total economy remains at the level of the fourth quarter of the previous year.
According to the preliminary estimates of GDP by final expenditure, in the first quarter of 2013 the final consumption expenditure decreased by 0.3%. For the same period, gross fixed capital formation increased by 2.5%. In the first quarter of 2013, the exports of goods and services increased by 3.1%. During the same period, imports of goods and services increased by 4.1% over the previous quarter.
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 0.4% compared to same quarter of previous year. The indicator's movement is determined mainly by the increase recorded in the agricultural sector 3.6%, industry 1.9%, trade, transport, hotels and restaurants 1.6%, Information and communication 1.2% and Professional, scientific and technical activities; administrative and support service activities 0.3%.
As regards the expenditure component of GDP, contributor to registered positive economic growth is a collective consumption with 3.2%. The individual final consumption has a decline of 1.0% compared with the same quarter of previous year. Gross fixed capital formation increased by 5.0%. Imports and exports of goods and services increased by 5.6% and 10.8% respectively when compared with the corresponding quarter of the previous year.
Source: National Statistical Institute