The volume of residential constructions grew by almost 80 pct in the first quarter of this year as compared to the same period in 2016, stated Tudorel Andrei, president of the National Institute of Statistics (INS) in a press conference on Wednesday.
"Constructions, at the level of the first quarter, recorded a decline against the same quarter last year. The most important observation concerns the change in dynamics on structure elements and the spectacular growth in residential buildings. It represents an increase of almost 80 percent as compared to last year, and this growth in construction must be correlated with the not very large share this sector has in the Gross Domestic Product (GDP) formation. At the level of this year's first quarter, we have seen increases in new constructions work," explained the INS president .
According to him, the share of all constructions in the GDP formation is 3.3 pct.
The 5.7 pct GDP growth in the first quarter was mainly based on the final consumption of households, which contributed 4.8 pct to the advance of the economy, according to a press release from the National Institute of Statistics ( INS) sent on Wednesday to agerpres.
"From the point of view of the GDP use, the increase was mainly due to the household final consumption expenditure, whose volume increased by 7.4 pct, contributing 4.8 pct to the GDP growth, to the stock variation, with 1.1 pct contribution, as a consequence of the significant increase in stocks in the economy.
A negative contribution to the GDP growth was recorded in gross fixed capital formation (-0.1 pct), as a result of the decrease in its volume by 0.7 pct and the net exports (-0.1 pct), a consequence of the slightly higher growth of the imports' volume of goods and services compared to the exports of goods and services (+0.09 percentage points)," reads the quoted document.
Almost all branches of the economy contributed to the growth rate of the GDP in the first quarter of 2017, compared to the first quarter of 2016, the more important positive contributions having the following branches: industry (+ 1.5 pct), with a share of 23.1 pct in GDP formation and which registered a 6.7 pct increase in the activity volume; wholesale and retail trade; motor vehicles and motorcycles repair; transportation and storage; hotels and restaurants (+ 1.4 pct), with a 19.5 pct share in the GDP formation and whose activity volume went up by 7.3 pct; information and communications (+ 0.9 pct), with a 6.2 pct share in the GDP formation and which registered a 15.3 pct rise in activity volume; professional, scientific and technical activities; administrative service activities and support service activities (+0.5 pct), with a 6.2 pct share of the GDP formation and whose volume of activity increased by 9.1 pct.
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