The estimated real Gross Domestic Product (GDP) growth rate amounted to 8.3% for September 2024 compared to previous year and the average real GDP growth for January-September 2024 equaled 9.8%, reads the report of GeoStat.

In September 2024, compared to the same period of the previous year, the estimated real growth in following activities contributed significantly: Construction, Financial and insurance activities, Transportation and storage, Trade.

Decline was registered in Energy sector.

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.