The Government Statistics Department today released preliminary figures for GDP calculated by economic activity for the first quarter of this year.
According to preliminary statistics, total GDP increased by 2.7% in real terms in the first quarter of this year compared to the same period last year, and an increase of 4.3% in the fourth quarter of last year.
According to a composite service industry analysis and a comparison with the same period last year, the value added of all services activities increased by 3.1% in the first quarter of this year, compared to 5.3% in the fourth quarter of last year.
The added value of import and export trade, wholesale and retail trade increased by 1.1% in real terms compared to the previous year, compared with 6.5% in the fourth quarter of last year.
The value added of the accommodation and catering sector increased by 14.6% in the first quarter of this year, after increasing by 14.6% in real terms compared to the previous year.
The value added of the transport, warehousing, postal and courier services industries increased by 19.5% in the first quarter of this year compared to the previous year, compared with 31.8% in the fourth quarter of last year.
The value added of the information and communications industry increased by 2.0% in real terms compared to the same period last year and 2.1% in the fourth quarter of last year.
The value added of the financial and insurance industries decreased by 0.8% in real terms compared to the same period last year, compared with 1.4% in the fourth quarter of last year.
The value added of the real estate, professional and commercial services sectors recorded a real increase of 1.0% in the first quarter compared to the same period last year, compared to 2.7% in the fourth quarter of last year.
The value added of the public administration, social and personal services sector increased by 3.1% in real terms compared to the same period last year, compared with 3.6% in the fourth quarter of last year.
For sectors other than services, the value added of local manufacturing increased by 1.8% in the first quarter of this year compared to the previous year, compared with 4.1% in the fourth quarter of last year.
The value added of the electricity, gas and tap water supply and waste management industries increased by 4.5% in real terms in the first quarter of this year compared to the previous year, compared with 3.6% in the fourth quarter of last year.
The value added of the construction sector increased by 9.6% in real terms compared to the same period last year, compared with 3.8% in the fourth quarter of last year.