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Gross Domestic Product registered a year-on-year change rate of 1.6%
Quarterly national accounts
Gross Domestic Product registered a year-on-year change rate of 1.6% - 3rd Quarter 2016
30 November 2016


Gross Domestic Product (GDP) registered a year-on-year increase of 1.6% in volume in the third quarter 2016 (0.9% in the previous quarter). The higher GDP growth mainly reflected the increase of net external demand, moving from 0.1 percentage points in the second quarter to 0.7. Exports of Goods and Services registered a significantly higher acceleration than Imports of Goods and Services.
The contribution of domestic demand to the GDP year-on-year change rate slightly increased, moving from 0.8 percentage points in the previous quarter to 0.9, mainly reflecting the more intense growth of private consumption. Although Gross Fixed Capital Formation (GFCF) presented a less negative year-on-year change rate in the third quarter of 2016, Investment registered a stronger reduction than the one observed in the previous quarter, reflecting the negative contribution of Changes in Inventories.
Comparing with the second quarter 2016, the GDP registered a change rate of 0.8% in real terms (0.3% in the previous quarter). Net external demand contribution to the GDP quarterly change was positive due to the increase in Exports of Goods and Services and the decrease in Imports of Goods and Services, while the contribution of domestic demand was negative, reflecting a decline in Investment.

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