Foreign trade contributed positively to GDP growth. Exports bounced back this quarter, rising by 2.6 per cent after falling by 0.8 per cent in the previous quarter. Imports rose by 0.4 per cent in Q2 after dropping by 2 per cent in Q1 2023.
Conversely, final domestic demand (excluding inventories) contributed negatively to GDP growth. The contribution of inventory changes to GDP growth was slightly negative this quarter as well, according to official statistics.
Total production (of goods and services) rose in Q2 2023 at a faster pace than in Q1. The acceleration was partly due to the dynamism of the manufacturing industry.
Energy production remained dynamic, following the continued reopening of nuclear power plants.
Total gross fixed capital formation (GFCF) was slightly back on the rise in Q2 2023, driven by the GFCF in manufactured goods.
ALCHEMPro News Desk (DS)
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