GDP contracts 1.9 percent in first quarter

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The growth rate of the Gross Domestic Product (GDP) in the first quarter of 2021 was -1.9 percent, the State Statistical Office said on Monday.

In this quarter, an increase was recorded in sections: F – Construction by 1.7%, L – Real estate activities by 0.5% and A – Agriculture, forestry and fishing by 0.3%.

In the first quarter of 2021, Household final consumption, including Non-profit institutions serving households, increased by 1.8% in nominal terms, and its share in the GDP structure was 65.5%.

Export of goods and services increased by 18.3% in nominal terms, while Import of goods and services increased by 11.2%.

Gross capital formation in the first quarter of 2021 registered a decrease in changes in inventories.

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