The Gross Domestic Product (GDP) increased by 4.8% in 2016 as against the previous year, the National Institute of Statistics (INS) informed on Tuesday.
Gross domestic product in Q4 2016 was, in real terms, by 1.3% higher, as compared to Q3 2016. As against the same quarter of 2015, the Gross Domestic Product recorded an increase by 4.7% for unadjusted series and by 4.8% for seasonally adjusted series.
The seasonally adjusted series of quarterly Gross Domestic Product was re-adjusted as a result of the revision of the GDP unadjusted series for 2014- 2015 for reconciling with the annual data ( 2014–final version, 2015–semi-final version) and of including the estimates for Q4 2016, being revised as compared to the statistics released a month ago.
In Q4 2016, as compared to the previous quarter, the Gross Domestic Product increased by 1.3%. As compared to the same quarter of 2015, the Gross Domestic Product increased by 4.8%. As compared to the same quarter of 2015, Gross Domestic Product in Q4 2016increased by 4.7%.
In the year 2016 the Gross Domestic Product increased by 4.8% as compared to 2015.