This year's Q2 was the 16th quarter in a row that GDP increased. In Q1, GDP went up 2.5% on the year.
The biggest positive contribution to GDP in Q2 came from higher exports. The export of commodities went up 7.1% and that of services by 4.3%. Thus, the exports rose by 5.6%
The import of commodities went up 2.9% and that of services by 13.9%, with a rise of 4.7% in total imports.
The contribution of domestic demand was also positive. Household consumption in Q2 went up 3.6% on the year. In Q1, the annual increase was 3.9%. The contribution of household consumption to economic growth was 2 percentage points.
Government spending slowed down to 2.5%, while Q1 saw an annual increase of 2.8%.
Gross investment in fixed capital went up 3.1%, down 0.5 percentage points from Q1.
According to seasonally adjusted data, GDP in Q2 went up 1.1% over the previous quarter and 2.8% on the year.
Text: Hina