On Flash Estimate of Gross Domestic Product in the 4th quarter of 2008
In the 4th quarter of 2008, compared to the same period of 2007, gross domestic product (GDP) value has decreased by 10.5%, according to flash estimate of the Central Statistical Bureau*.
In the 4th quarter of 2008 decline of economic development continued both in fields of manufacturing and of services. Volume of manufacturing has decreased by 11.3%, of retail trade – by 15.6%, of hotels and restaurants services – by 24.8%. Also the value of collected product taxes has dropped significantly.
Changes of GDP in the 1 quarter of 2001 - 4th quarter of 2008
More precise and extended rate and volume of GDP increase on fourth quarter of 2008 will be published in the press release of March 11, 2009.
* Flash estimate includes change forecast of all economics at constant prices. Calculations are based on short-term statistics data and econometric models available at the moment.
Prepared by National Accounts Section
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