Provisional estimates indicate that the Gross Domestic Product for the third quarter this year amounted to €1,674.4 million, an increase of 4.2 per cent compared to the corresponding period last year.

In real terms, GDP went up by 2.2 per cent, the National Statistics Office said.

During the period under review, growth in gross value added was generated by financial and insurance activities; manufacturing; arts, entertainment and recreation, repair of household goods and other services; information and communication; real estate activities; professional, scientific and technical activities; public administration and defence, compulsory social security, education, human health and social work activities; wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, accommodation and food service activities; agriculture, forestry and fishing.

A drop in gross value added was registered in the construction, electricity, gas, steam and air conditioning supply, and water supply activities.

The measurement of GDP from the expenditure approach indicates that GDP at constant prices went up by 2.2 per cent. Total final consumption expenditure in real terms increased by 1.5 per cent. Gross fixed capital formation at constant prices dropped by 26.9 per cent. Real exports and real imports declined.

The annual change in GDP at current prices, amounting to €67.6 million, is estimated to have been distributed into a €21 million increase in compensation of employees, a €6.1 million rise in gross operating surplus of enterprises, and a €40.5 million increase in net taxation on production and imports.

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 for the third quarter this year is estimated at €1,609.3 million.

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