02 April 2023,   01:03
Double-digit economic growth has been recorded for the second year in a row - GeoStat publishes new data

The estimated real Gross Domestic Product (GDP) growth rate amounted to 11.0 percent YoY for December 2022 and 10.1 percent in 2022 compared to previous year.

In December 2022 the estimated real growth compared to the same period of the previous year was observed in the following activities: Construction, Manufacturing, Transportation and storage, Financial and insurance activities, Trade, Hotels and restaurants.

A decline was registered in Real estate activities, Professional, scientific and technical activities, Electricity, gas, steam and air conditioning supply

Geostat produces monthly rapid estimates of real GDP growth rate using administrative data on VAT taxpayers’ turnover, fiscal and monetary statistics. Compilation of rapid estimates is an internationally adopted practice to obtain preliminary monthly growth rate of real GDP. For those sectors, where preliminary monthly data do not exist (e.g. agriculture. non-observed economy etc.), estimations are based on the data for previous periods. Furthermore, the data on VAT taxpayers’ turnover for the previous months may be updated on a monthly basis, resulting in corresponding adjustments of real GDP growth rate estimates.