Economic growth in the second quarter of 2023
Based on preliminary quarterly national accounts’ estimates, real gross domestic product (real GDP, seasonally adjusted) increased at an annual rate of 0.6% during the second quarter of the current year (April to June 2023), down from the growth rate recorded in the previous quarter (revised to 1.9%, against 2.1% initially). In terms of quarterly changes (i.e., compared to the first quarter of 2023), real GDP declined by 1.3%, while it had increased by 0.7% in the previous quarter. Overall, GDP growth in the first half of 2023 is estimated at 1.2%.
In this context, domestic demand increased by only 0.2% and posted a positive contribution of 0.25 percentage points to economic growth in the second quarter (0.6). While the external trade balance contributed by 0.35 points, due to the increase in the volume of exports of goods and services (11.4%), which slightly exceeded that of imports (9.0%).