Gross Domestic Product for the Second Quarter of 2023 (preliminary data)

In the second quarter of 2023, Gross Domestic Product (GDP) grew by 1.9% and Gross Value Added (GVA) by 2.2% compared to the second quarter of 2022 (data are preliminary and seasonally adjusted).

The increase in Gross Value Added is determined by the growth in the following economic activities:

Construction - 5.8%, Wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities - 4.6%, Professional, scientific and technical activities; administrative and support service activities - 4.4%, Agriculture, forestry and fishing - 4.2%, Information and communication - 3.1%, Public administration and defence; compulsory social security; education; human health and social work activities - 1.9%, Financial and insurance activities - 1.8%, Arts, entertainment and recreation, repair of household goods and other services - 1.0% and Real estate activities - 0.9%.

A decline with 1.0% was registered in Mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply, waste management and remediation activities.

Regarding the expenditure components of GDP, contributors to the registered positive economic growth are the Final consumption, with a growth of 4.0% and gross fixed capital formation increased by 7.3%.

According to the seasonally adjusted data, in the second quarter of 2023, exports of goods and services decreased by 0.9%, and the imports of goods and services dropped by 6.9% compared to the second quarter of 2022.