GDP in real terms rose by 3.9 per cent in the second quarter of this year when compared to the corresponding period in 2009, according to provisional estimates published by the National Statistics Office.

The NSO said growth in value added was generated by increases in the value of financial intermediation, electricity, gas and water ­supply, construction, hotels and restaurants, education and the manufacturing sector among ­others.

Drops in value were seen in agriculture and fishing, quarrying, transport, storage and communication.

The NSO said GDP from the expenditure approach indicated that GDP at constant prices increased by 3.9 per cent. Total final consumption expenditure in real terms rose by 1.4 per cent. Gross fixed capital formation at constant prices increased by 1.6 per cent.

Real exports and real imports experienced increases.

The annual change in GDP at current prices, amounting to €96.2 million, is estimated to have been distributed into a €7.8 million increase in compensation of employees, a €109 million rise in gross operating surplus of enterprises and a €20.6 million decline 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 second quarter the year is estimated at €1,446.6 million.