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Gross Domestic Product
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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. |
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GDP : Year-on-year rate of change in real terms | Year | Change over same period of the preceding year (%) |
2024-Q1 | 2.7 | 2023-Q4 | 4.3 | 2023-Q3 | 4.1 | 2023-Q2 | 1.5 | 2023-Q1 | 2.7 | 2022-Q4 | -4.2 | 2022-Q3 | -4.5 | 2022-Q2 | -1.3 | 2022-Q1 | -4.0 | 2021-Q4 | 4.8 | 2021-Q3 | 5.4 | 2021-Q2 | 7.6 | 2021-Q1 | 8.0 | 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-Q2 | 0.5 | 2019-Q1 | 0.6 | 2018-Q4 | 1.3 | 2018-Q3 | 2.9 | 2018-Q2 | 3.5 | 2018-Q1 | 4.7 | 2017-Q4 | 3.4 | 2017-Q3 | 3.7 | 2017-Q2 | 3.9 | 2017-Q1 | 4.3 | 2016-Q4 | 3.2 | 2016-Q3 | 2.0 | 2016-Q2 | 1.7 | 2016-Q1 | 0.8 | 2015-Q4 | 1.9 | 2015-Q3 | 2.2 | 2015-Q2 | 2.8 | 2015-Q1 | 2.4 | 2014-Q4 | 2.4 | 2014-Q3 | 2.9 | 2014-Q2 | 2.0 | 2014-Q1 | 2.7 | 2013-Q4 | 2.9 | 2013-Q3 | 3.0 | 2013-Q2 | 3.0 | 2013-Q1 | 2.9 |
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