Real GDP increased at an annual rate of 2.8 percent in the second quarter of 2022
The results of the quarterly national accounts for the second quarter of 2022 show that real gross domestic product GDP increased at an annual rate of 2.8%, after a year-on-year growth at 2.4% recorded in the first quarter of 2022. However, compared to the previous quarter, real GDP contracted by -1% during the second quarter of 2022.
Economic growth was driven by the dynamics of the service branches (+5.2% at an annual rate), particularly in the accommodation, food and beverage serving activities (+42.5%) and that of transport (+19%). In manufacturing industries, textile industries (+16.4%) and mechanical and electrical industries (+6.3%) also recorded an acceleration in their growth rate. On the other hand, the growth momentum was down in oil and natural gas extraction (-15.7%), construction (-11.6%), building materials industries (- 6.9%) and chemical industries (-2%).