In the third quarter of 2025, Gross Domestic Product (GDP), in volume, recorded a year-on-year rate of change of 2.4%, a rate 0.6 percentage points higher than that observed in the previous quarter. The negative contribution of net external demand to the year-on-year growth rate of GDP was less pronounced in the third quarter, driven simultaneously by the slowdown in imports of goods and services and the increase in exports of goods and services. The positive contribution of domestic demand to the year-on-year growth rate of GDP declined, from 4.0 percentage points in the second quarter to 3.6, reflecting a slowdown in investment. 

Compared to the second quarter of 2025, GDP increased by 0.8% in volume (0.7% increase in the previous quarter). The contribution of net external demand to the GDP quarter-on-quarter rate of change moved from -0.3 percentage points to -0.6 percentage points, with the acceleration in imports of goods and services outweighing the increase in exports of goods and services. The positive contribution of domestic demand increased to 1.4 percentage points (0.9 percentage points in the previous quarter), with more intense growth rates in private consumption and in investment.