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Press release

Quarterly national accounts

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In the second quarter of 2020 the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) decreased by 12.8 per cent to the previous quarter and by 17.7 per cent in comparison with the second quarter of 2019.

Compared to previous quarter, final consumption expenditure decreased by 8.7 per cent, gross fixed capital formation by 14.9 per cent, imports and exports by 20.5 per cent and 26.4 per cent respectively.

With respect to the second quarter of 2019, final consumption expenditure decreased by 13.7 per cent, gross fixed capital formation by 21.6 per cent, imports by 26.8 per cent, and exports by 33.1 per cent.

The carry-over annual GDP growth for 2020 is equal to -14.7 per cent.

Reference period: Second quarter 2020

Date of Issue: 31 August 2020

Next release: 2 October 2020

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