Gross Domestic Product (GDP), in volume, recorded a year-on-year growth rate of 2.3% in the first quarter of 2026, after increasing 1.9% in the previous quarter. The positive contribution of domestic demand to the year on year growth rate of GDP increased in the first quarter, determined by an acceleration of investment. Net external demand recorded a more negative contribution, as imports of goods and services grew at a faster pace than exports of goods and services.
Compared to the fourth quarter of 2025, GDP in volume stabilised, after an increase of 0.9% in the previous quarter. The contribution of net external demand to the quarter-on-quarter rate of change of GDP turned negative, as imports of goods and services recovered more significantly than exports of goods and services. In the opposite direction, the contribution of domestic demand turned positive, with a marked acceleration of investment, while private consumption slowed down.
