In the second quarter of 2022, the GDP was 7.7% higher in real terms than in the same quarter of 2021

Upward trend in economic activity continues

In the second quarter of 2022, GDP was 7.7% higher than in the same quarter of 2021.

The first estimate shows that the quarterly gross value added (GVA) increased in real terms by 8.8% in the second quarter of 2022, as compared to the same quarter of 2021, based on non-seasonally adjusted data. The quarterly growth in GVA was recorded in almost all activities (an annual decrease was present only in Financial and insurance activities, of 0.6%) and it was mostly influenced by Wholesale and retail trade, Transportation and storage, and Accommodation and food service activities.

Household consumption increased in real terms by 7.7% in the second quarter of 2022, mainly due to an increase in turnover from catering services, transport services and retail trade.

After two quarters of growth, government spending decreased by 2.2% in real terms in the second quarter of 2022 compared to the same period of the previous year.

In the second quarter of 2022, the export of goods and services recorded a significant growth in real terms, of 41.9%, while the import of goods and services recorded a growth of 28.6% in real terms.

Additional information can be found in the First Release. 
 

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