INS Revises Upward the GDP Outlook for First 9 Months

In the third quarter of this year, the economy grew by 1.1% compared to the same quarter in 2022, according to the announcement made on Thursday by the National Institute of Statistics.

This follows a mid-October signal where GDP growth was initially estimated at 0.2%.

For the period of January 1 to September 30, 2023, the Gross Domestic Product increased by 1.4% compared to the same period in 2022 on a gross basis, as reported by the Statistics Institute, revising its earlier estimate of 1.1% growth for the first 9 months.

The following sectors had significant contributions to the rising GDP: agriculture and fishing, constructions, IT and telecom, wholesale and retail, accommodation and HoReCa, real estate transactions, scientific and technical activities, cultural, entertainment activities, public administration and defense.

economyGDPgross domestic productINSnational institute of statisticsupward
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