The Gross Domestic Product (GDP) expanded 0.2% in the second quarter of 2013 over the same quarter of the previous year and shrank 0.1% compared with the first quarter of 2013.
GDP in monetary terms, current prices
According to the flash GDP estimates for the second quarter of 2013, the GDP at current prices amounted to 19,321 million Levs.
GVA at current prices amounted to 16,683 million Levs. The services sector has the largest share (61.2%) in total value added, followed by the industrial sector (32.9%) and the agricultural sector (5.9%).
In the structure of GDP by the expenditure approach the largest share has the final consumption (81.2%), which in nominal terms amounted to 15,690 million Levs. In the second quarter of 2013 gross fixed capital formation is 4,225 million Levs and has a share of 21.9% in GDP. The external balance (exports minus imports) has a negative sign.
According to the seasonally adjusted data, the GDP growth rate in the second quarter of 2013 has a decrease of 0.1% compared with the previous quarter. In the second quarter of 2013 gross value added of the total economy also has a decrease of 0.1%.
According to the flash estimates of GDP by final expenditure in the second quarter of 2013 a decrease of the gross fixed capital formation with 2.0% is registered.
Growth rates on annual basis
During the second quarter of 2013 GDP increased by 0.2% compared to the same quarter of the previous year. Gross value added increased by 0.2%. An increase is recorded in the agricultural sector (2.7%) and the services sector (0.5%).
As regards the expenditure components of GDP, the final consumption registered a positive economic growth of the collective consumption by 1.9% compared to the same quarter of the previous year. Gross fixed capital formation recorded an increase by 1.8% compared to the same quarter of the previous year. Exports and imports of goods and services increased by 2.2 and 1.1%.
Source: National Statistical Institute