GDP up 3.5 per cent in first quarter

Gross Domestic Product (GDP) in the first quarter increased by 3.5 per cent in real terms over the same period last year, according to provisional estimates. The increase was of 6.2 per cent at market prices. The National Statistics Office said GDP...

Gross Domestic Product (GDP) in the first quarter increased by 3.5 per cent in real terms over the same period last year, according to provisional estimates.

The increase was of 6.2 per cent at market prices.

The National Statistics Office said GDP stood at €1,312.6 million at current prices and €1,072.2 million at constant prices.

Growth in value added was generated primarily by remote gaming activities, real estate, renting and business activities, transport, storage and communication, hotels and restaurants, wholesale and retail trade, public administration, education and health.

Rising international oil and food prices dampened growth in most economic activities, the NSO added.

Considering the effects of income and taxation paid and received by residents to and from the rest of the world, Gross National Income at market prices was estimated at €1,305.6 million for the first quarter, up by 10.8 per cent over the same quarter last year.

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