In the fourth quarter of 2012 GDP at current prices amounts to 21 085 million Levs. In Euro terms GDP reaches 10 780 million Euro in total and 1 478 Euro per person. According to the seasonally adjusted figures, the GDP growth rate in the fourth quarter of 2012 is 0.5 % compared to the same quarter of the previous year and remains at the same level compared to the third quarter of 2012.
In 2012 GDP at current prices amounts to 77 583 million Levs. In Euro terms GDP is 39 667 million Euro or 5 436 euro per person. GDP for 2012 in real terms increases by 0.8% compared to 2011.
GDP, current prices
Fourth quarter of 2012
According to the preliminary data the produced Gross Domestic Product at current prices for the fourth quarter of 2012 is 21 085 million Levs. GDP per person is 2 892 Levs. GDP is 13 971 million US dollars using the average exchange rate (for the quarter) of 1.509179 Levs for 1 USD. GDP per person is 1 916 US dollars. In euro terms GDP is 10 780 million Euro or 1 478 Euro per person.
The GVA generated by the national economy during the fourth quarter of 2012 amounts to 18 356 million Levs at current prices.
The share of agricultural sector in GVA of the national economy increases by 0.8 percentage points and reaches 4.3 % in the fourth quarter of 2012 compared to the same quarter of the previous year. The Industry increases its relative share in the GVA of the national economy with 0.6 percentage points and reaches 26.3 %. As compared with the fourth quarter of 2011 the service sector decreases its share in gross value added of the economy from 70.8 % to 69.4 %.
For individual consumption1 of population 81.7 % of the produced GDP is used during the fourth quarter of 2012. Investments (gross fixed capital formation) form 23.3 % of GDP. The external balance (exports-imports of goods and services) is negative.
GDP growth rates, total and by components
Growth rates on quarterly basis
In the fourth quarter of 2012 GDP remains at the same level compared to the third quarter of 2012. For the same period GVA increase is 0.2%.
According to the preliminary data for the fourth quarter of 2012 the final consumption decreases by 0.1 % compared to the third quarter of 2012. Gross fixed capital formation decreases by 0.4 % for the same period. In the fourth quarter of 2012 the exports of goods and services decreases by 0.6 %, and the imports decreases by 2.3% compared to the previous quarter.
Growth rates on annual basis
GDP for the fourth quarter of 2012 increases by 0.5 % compared to the same quarter of the previous year.
During the fourth quarter of 2012 GVA increases by 0.6 % compared to the fourth quarter of 2011. The growth is based to the increase in: Agriculture sector – with 2.3 % and Industry (without construction) - with 3.7%, Wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities – with 3.8 %, Public administration and defense; compulsory social security; education; human health and social work activities – with 2.9 %, Arts, entertainment and recreation activities and other services – with 8.8 %.
As regards the expenditure components of GDP, a major contributor to registered positive economic growth had an individual consumption with 1.3 %. The collective final consumption remains at the same level compared with the same quarter of previous year. Gross fixed capital formation has a growth of 1.5 %. Imports and exports of goods and services decreased by 0.5 and 2.1 % accordingly, compared to the corresponding quarter of the previous year.
GDP for 2012
GDP for 2012 is obtained as a sum of data by quarter, and increases in real term with 0.8 % in comparison to the previous year. Gross value added increase is 0.3 %.
Source: National Statistical Institute