21 May 2022,   17:15
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Estimated real GDP growth rate in November 2021 equaled to 12%

Estimated real Gross Domestic Product (GDP) growth rate in November 2021 equaled to 12% YoY and 10.7% YoY in January-November 2021.

In November 2021 the estimated real growth compared to the same period of the previous year was observed in the following activities: Manufacturing, Transportation and storage, Arts, entertainment and recreation, Trade, Hotels and restaurants, Financial and Insurance activities.

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.

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