The Gross Domestic Product for the second quarter this year amounted to €1,513.4 million, an increase of 6.8 per cent over the corresponding period last year, according to provisional estimates published by the National Statistics Office.

The NSO said that in real terms, the GDP went up by 3.9 per cent.

It said growth in value added was generated by a number of economic activities, namely financial intermediation; electricity, gas and water supply; other community services; construction; hotels and restaurants; education; manufacturing sector; health; real estate, renting and business activities; public administration and wholesale and retail trade.

Declines in value added were registered in agriculture and fishing; mining and quarrying and in transport, storage and communication.

The NSO said that the measurement of 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 €109.0 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.