Statistics: GDP in 3Q23 Up 1.1 percent Y-o-Y (2)

Bratislava, December 5 (TASR) - Slovakia's GDP in the third quarter of 2023 increased by 1.1 percent year-on-year (in fixed prices, not seasonally adjusted), the Statistics Office has reported. GDP in current prices grew by 11 percent y-o-y at €32.2 billion. In quarterly terms and seasonally adjusted, GDP increased by 0.2 percent. Individual sectors of the economy maintained moderate growth in gross value added in 3Q23. The volume of gross value added in current prices reached €29.4 billion, which was €22.1 billion in fixed prices. Growth in this key component of GDP reached 2.6 percent year-on-year. Meanwhile, eight of the ten economic sectors monitored achieved a yearly increase in gross value added. Growth in industry, which accounted for almost a third of the economy's value added in the third quarter, reached 4.9 percent. The year-on-year increase in value added in this sector was mainly supported by the manufacture of cars - up 16.3 percent; the manufacture of rubber and plastic products - up 25.7 percent; and the manufacture of food, beverages and tobacco products - up 12.1 percent. Among the more important industries, the manufacture of fabricated metal products and metal structures declined by 4.3 percent, while the manufacture of machinery dropped by 4 percent. On average, Slovakia's GDP in the first nine months of 2023 increased by 1.1 percent (in fixed prices, not seasonally adjusted). The volume of GDP in current prices amounted to €90.1 billion. zel