Real gross domestic product (GDP) at market prices (measured through the production approach and seasonally adjusted) increased by 1.1 % in the fourth quarter of 2016 compared with the fourth quarter of 2015. At the same time, real GDP reflected positive growth of 0.7% quarter-on-quarter.
Consequently, as a first estimate, real gross domestic product would have increased by 1.0%in 2016, following an increase of 1.1% in 2015. Furthermore, GDP excluding agriculture posted a 2.0% growth rate in 2016, compared to zero growth in 2015.
Meanwhile, it is important to note that the overall growth in 2015 has been slightly revised upwards (1.1% in place of a previous estimate 0.8%). This revision is the result of a new valuation of output growth of the agricultural sector. Thus, after updating data for the crop campaigns 2015-2016, the value added of the primary sector increased by 12.5% in 2015 (instead of a preliminary estimation at 9.2%) and followed by a decrease of 8.1 % in 2016.