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Real GDP growth in the second quarter was 1.7 percent

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The real growth of the gross domestic product (GDP) in the second quarter of this year, compared to the same period in 2022, was 1.7 percent, the Republic Institute of Statistics announced today.

The seasonally adjusted data series shows GDP growth in the second quarter of 1.3 percent compared to the previous quarter.

Observed by activities, in the second quarter of this year compared to the same period of the previous year, significant real growth of gross added value was recorded in construction by 15.1 percent, information and communications by 10.1 percent, and the agriculture, forestry and fishing sector by 9.3 percent.

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A real decrease in gross added value was recorded in wholesale and retail trade, transport and accommodation and food services, 2.4 percent and the sector of state administration and mandatory social insurance, education and health and social protection, 0.6 percent.

Observed by aggregates of use of the gross domestic product, in the second quarter of 2023, compared to the same period of the previous year, real growth was recorded in final consumption expenditures of non-profit institutions that provide services to households (NPID) by 1.4 percent, gross investment in basic assets 3.9 percent and exports of goods and services 2.1 percent.

A real decrease was recorded in expenditures for final consumption by households of 0.5 percent, expenditures for final consumption of the state by 1.1 percent, and imports of goods and services by 5.8 percent.

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