Gross Domestic Product (GDP), in real terms, registered a year-on-year growth rate of 1.9% in the third quarter of 2024, 0.3 percentage points higher than in the previous quarter. The positive contribution of domestic demand to the year-on year growth rate of GDP increased slightly in the third quarter, with an acceleration of private consumption and a decrease of investment. The contribution of net external demand to the year on year rate of change of GDP remained negative, with imports and exports of goods and services accelerating.

Compared to the second quarter of 2024, GDP increased by 0.2% in volume, same rate as observed in the previous quarter. The contribution of domestic demand to quarter-on-quarter rate of change of GDP continued to be positive in the third quarter, with an increase of investment and private consumption, while the contribution of net external demand remained negative.