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Gross Domestic Product
GDP by expenditure component for the fourth quarter and the whole year of 2015
##In the fourth quarter of 2015, the Gross Domestic Product (GDP) increased by 1.9% in real terms over a year earlier, compared with the 2.2% increase in the third quarter of 2015. For 2015 as a whole, GDP increased by 2.4% in real terms over 2014.
##On a seasonally adjusted quarter-to-quarter comparison basis, GDP increased by 0.2% in real terms in the fourth quarter when compared with the third quarter of 2015.
##Analysed by major GDP component, private consumption expenditure (PCE) continued to increase, by 3.2% in real terms in the fourth quarter of 2015 over a year earlier, after the 4.3% growth in the third quarter. For 2015 as a whole, PCE increased by 4.8% in real terms over 2014.
##Government consumption expenditure (GCE) measured in national accounts terms increased by 3.5% in real terms in the fourth quarter of 2015 over a year earlier, compared with the growth of 2.8% in the third quarter. For 2015 as a whole, GCE increased by 3.4% in real terms over 2014.
##Gross domestic fixed capital formation (GDFCF) decreased by 9.7% in real terms in the fourth quarter of 2015 from a year earlier, compared with the 6.4% decrease in the third quarter. For 2015 as a whole, GDFCF decreased by 2.2% in real terms from 2014.
##Within the total GDFCF, expenditure on machinery, equipment and intellectual property products decreased by 13.0% in real terms in the fourth quarter of 2015 from a year earlier, compared with the decrease of 10.7% in the third quarter.
##On the other hand, expenditure on building and construction in GDFCF decreased by 1.5% in real terms in the fourth quarter of 2015 from a year earlier, as against the increase of 4.1% in the third quarter. Within this category, expenditure on building and construction in respect of the private sector increased by 3.4% in real terms in the fourth quarter of 2015 while that of the public sector decreased by 9.5%.
##Over the same period, total exports of goods (comprising re-exports and domestic exports) decreased by 0.3% in real terms from a year earlier, compared with the decrease of 3.2% in the third quarter of 2015. Imports of goods decreased by 2.6% in real terms in the fourth quarter of 2015, compared with the 4.1% decrease in the third quarter. For 2015 as a whole, total exports of goods and imports of goods recorded decreases of 1.7% and 2.5% respectively in real terms from 2014.
##Exports of services decreased by 2.7% in real terms in the fourth quarter of 2015 from a year earlier, compared with the 0.9% decrease in the third quarter. Imports of services increased by 5.4% in real terms in the fourth quarter of 2015, compared with the 4.7% increase in the third quarter. For 2015 as a whole, exports of services and imports of services recorded 0.6% decrease and 5.1% increase respectively in real terms over 2014.
##The implicit price deflator (IPD) of GDP, as a broad measure of overall inflation in the economy, increased by 3.0% in the fourth quarter of 2015 over a year earlier, compared with the 3.7% increase in the third quarter. For 2015 as a whole, the IPD of GDP increased by 3.9% over 2014.
##After incorporation of the latest information available, the year-on-year growth rate of GDP in real terms for the whole year of 2014 was revised slightly from 2.5% to 2.6%. For 2015, the year-on-year real growth rates of GDP for the first quarter remained at 2.4%. Those for the second and third quarters were revised from 2.8% and 2.3% to 2.9% and 2.2% respectively.
 
GDP : Year-on-year rate of change in real terms
YearChange over same period
of the preceding year (%)
2023-Q34.1
2023-Q21.5
2023-Q12.7
2022-Q4-4.2
2022-Q3-4.5
2022-Q2-1.3
2022-Q1-4.0
2021-Q44.8
2021-Q35.4
2021-Q27.6
2021-Q18.0
2020-Q4-3.0
2020-Q3-3.5
2020-Q2-9.0
2020-Q1-8.9
2019-Q4-2.9
2019-Q3-2.9
2019-Q20.5
2019-Q10.6
2018-Q41.3
2018-Q32.9
2018-Q23.5
2018-Q14.7
2017-Q43.4
2017-Q33.7
2017-Q23.9
2017-Q14.3
2016-Q43.2
2016-Q32.0
2016-Q21.7
2016-Q10.8
2015-Q41.9
2015-Q32.2
2015-Q22.8
2015-Q12.4
2014-Q42.4
2014-Q32.9
2014-Q22.0
2014-Q12.7
2013-Q42.9
2013-Q33.0
2013-Q23.0
2013-Q12.9
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