GDP fell by 0.9% y / y in Q1 2021 according to the 2nd estimate against 1.2% according to the 1st estimate
Gross Domestic Product (seasonally unadjusted, constant average prices of the previous year) decreased by 0.9% y / y in Q1 2021 as compared to a 2.7% y / y decline in the previous quarter, according to the Central Statistical Office (GUS), presenting the second estimates of data.
According to a quick estimate (published in mid-May), the decline in GDP in this approach in 2018 Q1. was 1.2%.
In the first quarter of 2020, seasonally adjusted GDP (constant prices at the reference year 2015) increased in real terms by 1.1% compared to the previous quarter and was lower than in the previous year by 1.4%.
In non-seasonally adjusted terms, domestic demand grew by 1% in Q1 2021, compared to a decline of 2.9% in Q4 2020.
Total consumption in 2018 Q1 increased by 0.6% (in non-seasonally adjusted terms), including consumption in the household sector – increased by 0.2%, public consumption – increased by 2.5% (in Q4 2020, respectively: -0.2 %, -3.2%, + 7.7%), the Office also reported.
Gross capital formation increased (in non-seasonally adjusted terms) by 3.4% in Q1 2021, including gross fixed capital formation by 1.3% (against a decline in accumulation by 10.4% and gross capital formation permanent by 15.4% a quarter earlier).
Exports increased (in non-seasonally adjusted terms) by 5.7% in Q1 2021 (as compared to a 7.6% increase in Q4 2020), while imports increased by 10% (compared to an 8.2% increase in the previous quarter), the Office also reported.
Gross value added (in non-seasonally adjusted terms) decreased by 1.3%, compared to a 3% decrease in Q4 2020.
Source: GUS and ISBnews
