On Flash Estimate of Gross Domestic Product in the 2nd quarter of 2009

10.08.2009

In the 2nd quarter of 2009 compared to the same period of 2008 gross domestic product (GDP) value has decreased by 19.6%, according to flash estimate of the CSB*.

In the 2nd quarter of 2009 decline of economic development continued both in fields of manufacturing and of services. Major volume decreases were observed in retail trade – by 28%, in hotels and restaurants services – by 35%, in industry – by 19%. The drop of value of collected product taxes continues to maintain negative impact on GDP.

Changes of GDP in the 1st quarter of 2003 - 2nd quarter of 2009, at constant prices

Seasonally adjusted data witness that in the 2nd quarter of 2009 compared to the same period of 2008 GDP volume has decreased by 18.2%.

More precise and extended rate and volume of GDP increase on second quarter of 2009 will be published in the press release of September 8, 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
Inese Medne
Tel. 67366799