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Friday, September 14, 2007

GDP Q2 2007

Compared to the corresponding period of previous year, gross domestic product (GDP) in 1st half of 2007 increased by 11.1%, according to data released last week by the Central Statistical Bureau.

In fact in the second quarter of 2007 GDP increased by 2.7% when compared with the first quarter, and by 11% when compared with Q2 2006. Here are the quarterly and annual charts:

As can be seen from the quarterly chart, if there is a slowdown it certainly isn't a very big one.

Looking at the annual rate (quarter on quarter) some slight slowdown is evidenced, but frankly, given the scale of the inflation problems, it isn't very substantial.

And if we come to look at the breakdown of the growth, then we find that as compared to the corresponding period of previous year, in the 2nd quarter of 2007 the volume of the total final domestic consumption increased by 16.2%. This increase in final domestic consumption was due to private consumption of households and non-profit organizations increasing by 18.4%, while, the government final consumption increased by 5.7%.

At the same time export of goods and services increased by 8.7%, while, the volume of import of goods and services increased by 23.0%.

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