In the 1st quarter of 2013 gross domestic product increased by 3.6%

07.06.2013

Data compiled by the Central Statistical Bureau (CSB) show that Gross Domestic Product (GDP) at current prices in the 1st quarter of 2013 was 3 597.2 mln lats.

According to seasonally non-adjusted data, in the 1st quarter of 2013, compared to the 1st quarter of 2012, GDP has grown by 3.6%, but, according to seasonally adjusted data, compared to the 4th quarter of 2012, it has increased by 1.4%.

 

Changes of GDP volume at constant prices, 1st quarter 2011 - 1st quarter 2013

 (at constant prices, %)

Production approach

In the 1st quarter of 2013, compared to the 1st quarter of 2012,largest contribution to the GDP rise (1.5 percentage points) was ensured by increase in the following sectors: in trade – of 4.6%, of which in retail trade – of 6% (increase of which was accelerated by rise of 5% in retail sale with non-food products, of 5% in retail sale with food products and of 10% in retail sale with automotive fuel).

Increase in construction by 9.8% was impacted by rise of investment in construction of residential buildings 2.3 times and in construction of main pipelines, communication and electricity lines 2.6 times. Construction of industrial buildings and warehouses grew by 3.4%, but investment in construction of highways, streets and roads reduced by 31.8%.

Information and communication services sector comprised GDP increase of 0.6 percentage points which grew by 13.4%. Rise in sector was advanced by development of telecommunication services.

In the 1st quarter of 2013 manufacturing rate decreased by 4.8%, which reduced total GDP rate by 0.7 percentage points. Major impact on the reduction of sector's rate had manufacture of wood and of products of wood (21.2% of total manufacturing) – decrease of 3.1% and manufacture of basic metals (3.3% of total manufacturing) – decrease of 21.3%. Manufacture of food products rose by 3.5% (19.9% of total manufacturing).

Changes of GDP in the 1st quarter of 2013 by kind of economic activity

(at constant prices, % over 1st quarter of 2012)

NACE Rev. 2 sectors

agriculture, hunting and forestry (A);

4.6

Structure of sectors at current prices, %

manufacturing (C);

14.2

other industry (BDE);

6.6

construction (F);

3.3

trade (G);

15.6

transportation and storage (H);

12.1

accommodation and food service activities (I);

1.6

information and communication (J);

4.6

financial and insurance activities (K);

3.4

real estate activities (L);

11.4

commercial services (MNS);

7.1

public administration and defence; compulsory social security (O);

6.8

education (P);

4.1

human health and social work activities(Q);

2.8

arts, entertainment and recreation (R);

1.8

product taxes minus product subsidies (D.21-D.31)

x

Expenditure approach

In the 1st quarter of 2013, compared to the 1st quarter of 2012, private final consumption at current prices grew by 4.9%.Rise was recorded within the main groups of final consumption expenditure:on housing maintenance (28% of the total expenditure) – of 2.7%, on food (20% of total expenditure) – of 2.8%, and on transport (14% of total expenditure) - of 9.6%. Gross fixed capital formation reduced by 7.2%. Export of goods (73% of total exports) has risen by 7.7% and exports of services – by 5.0%. Volume of imports of goods (85% of total imports) has increased by 5.0%, but volume of imports of services has decreased by 0.3%. But government final consumption grew by 12.0%.

Gross domestic product by main expenditure items

at current prices, % of the corresponding quarter of the previous year

at constant prices, % of the corresponding quarter of the previous year

Compared to the 1st quarter of 2012, expenditure on private final consumptionin the 1st quarter of 2013 at constant prices grew by 4.7%, of which expenditure on housing rose by 2.9%, expenditure on food – by 1.8%, and expenditure on transport – by 6.5%. Increase of the private final consumption had a positive effect on the total GDP rise – of 3.4 percentage points. Expenditure on gross fixed capital formationdeclined by 10.6%, but government final consumption increased by 1.1% which, respectively, had a negative effect on the GDP – of 2.5 percentage points and a positive effect – of 0.2 percentage points. Export of goods increased by 3.6% and export of services – by 1.4%. Exports increased the GDP by 1.8 percentage points. In its turn,import of goods grew by 1.9%, while import of services decreased by 3.2%. Imports reduced the GDP by 0.7 percentage points.

Changes of Gross Domestic Product in the Baltic Countries
(at constant prices, % of the corresponding period of the previous year)

*for Estonia on the 1st quarter of 2013 – flash estimate data

 

More information:
Quarterly National Accounts Section
Tel. 67366961
Elita Kalniņa