The estimated real Gross Domestic Product (GDP) growth rate amounted to 9.2 percent for May 2024 compared to previous year and the average real GDP growth for January-May 2024 equaled 9.3 percent, reads the report of GeoStat.

In May 2024, compared to the same period of the previous year, the estimated real growth in following activities contributed significantly: Information and communication, Professional, scientific and technical activities, Financial and insurance activities, Construction, Transportation and storage.

Geostat produces monthly rapid estimates of real GDP growth rate using administrative data on VAT taxpayers’ turnover, fiscal and monetary statistics. Compilation of rapid estimates is an internationally adopted practice to obtain preliminary monthly growth rate of real GDP. For those sectors, where preliminary monthly data do not exist (e.g. agriculture. non-observed economy etc.), estimations are based on the data for previous periods.