The National Statistical Institute (INS) revised upwards by 0.2 to 0.7 per cent the Q1 economic growth compared to Q4 2012 and by 0.1 to 2.2 per cent on a year-on-year basis, according to INS data. In May, INS anticipated 0.5 per cent GDP growth compared to Q4 2012 and 2.1 per cent compared to Q1 2012.

The Q1 GDP growth this year compared to last year was supported by all economic sectors, with the exception of agriculture, forestry and fisheries, which had a negative input (-0,3%). More important contributions came from the industry (+0.7%), with a weight of 28.8 per cent on the formation of the GDP and the volume of which was up 2.6 per cent, wholesale and retail commerce, motor-vehicle and motor-bike repairs, transport and storage, hotels and restaurants (+0.4%), with a weight of 12.7 per cent on GDP formation and the volume of activity of which grew by 3.2 per cent.

Important contribution were also made by professional, scientific and technical activities, administrative and support services (+0.4 per cent), with a smaller weight on the formation of the GDP (5.3 per cent), but with notable increase of the volume of activity (6.8 per cent). 

From the point of view of the utilisation of the GDP, the growth was due to net export (with a contribution of 3 per cent), the consequence of the 3.9 per cent rise of the export of goods and services correlated with the reduction of the volume of the import of goods and services by 1.7 per cent. (source: