KSH: GDP fell by 13.6 percent in the second quarter

By: Trademagazin editor Date: 2020. 09. 01. 11:35

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Gross domestic product (GDP) fell 13.6 percent year-over-year in the second quarter. According to the seasonally and calendar-adjusted data, the performance of the economy decreased by 13.5 percent compared to the same quarter of the previous year and by 14.5 percent compared to the previous quarter.

According to raw data, the performance of the national economy decreased by 6.1 percent in the first half of the year, the Central Statistical Office (KSH) confirmed on Tuesday based on its second estimate.

The emergency situation caused by the coronavirus pandemic had an adverse effect on the performance of most sectors of the economy, they added.

Compared to the first quarter, the gross value added of industry fell by 20.6 percent, construction by 17.5 percent and services by 13.4 percent. (MTI)