23 January 2022,   13:43
Economy to grow by 6.9% in September - GeoStat

Estimated real Gross Domestic Product (GDP) growth rate in September 2021 equaled 6.9% YoY and 11.3% in January-September of 2021 YoY.

In September 2021 the estimated real growth compared to the same period of the previous year was observed in the following activities: Financial and Insurance activities, Transportation and storage, Manufacturing, Electricity, gas, steam and air conditioning supply, Hotels and restaurants, Arts, entertainment and recreation, Real estate activities, Trade.

A decline was registered in Construction.

Geostat produces monthly rapid estimates of real GDP growth rate using administrative data on VAT taxpayers’ turnover, fiscal and monetary statistics. Compilation of rapid estimates is an internationally adopted practice to obtain preliminary monthly growth rate of real GDP. For those sectors, where preliminary monthly data do not exist (e.g. agriculture. non-observed economy etc.), estimations are based on the data for previous periods.

Furthermore, the data on VAT taxpayers’ turnover for the previous months may be updated on a monthly basis, resulting in corresponding adjustments of real GDP growth rate estimates.