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Real Gross Domestic Product: 3rd Quarter of 2010 (ADVANCE)
Real gross domestic product (chained volume measure of GDP) increased by 0.7 percent in the third quarter of 2010 compared to the previous quarter.
On the production side, the manufacturing sector recorded growth of 2.0 percent.
This was due mainly to growth in the general machinery and transport equipment.
The construction sector turned to positive growth of 0.4 percent over the quarter, owing to the increase in civil engineering that offset sluggishness in building construction.
Services rose by 0.3 percent, reflecting increases in wholesale & retail trade, restaurants & hotels and financial intermediation, which offset the declines in transport & storage and real estate & renting.
Real gross domestic income (GDI), which reflects changes in the terms of trade, rose by 0.2 percent.
Growth Rates by Kind of Economic Activity (at chained 2005 year prices, S.A. series)
(percentage changes from previous quarters)
2008 2009p 2010p
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
Gross Domestic Product -0.1 -4.5 0.2 2.4 3.2 0.2 2.1 1.4 0.7
Agriculture, forestry & fishing -0.6 0.5 -0.1 -0.4 2.9 0.4 -4.9 0.1 -2.0
Manufacturing -0.6 -11.2 -2.5 8.0 9.4 -1.7 4.2 5.2 2.0
Electricity, gas & water 1.7 2.1 2.4 -1.3 3.8 -2.6 4.8 0.7 -0.1
Construction 1.5 -3.8 4.4 1.2 -1.0 -0.6 1.9 -0.9 0.4
Services1) 0.3 -1.2 0.3 1.0 0.9 0.9 1.6 0.1 0.3
Gross Domestic Income -2.3 -2.7 0.1 4.7 1.4 2.8 1.1 0.5 0.2
Note : 1) Includes wholesale & retail trade; restaurants & hotels; transport & storage; financial intermediation;
real estate and renting; information & communication; business activities; public administration, defence & compulsory social security; education; health and social work; recreational, cultural and sporting; and other service activities
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On the expenditure side, private consumption rose by 1.3 percent with increased expenditure on durables such as mobile phones and automobiles, while spending on food & non-alcoholic beverages and recreation & culture declined. Government consumption fell by 0.6 percent, mainly due to a decrease in health care benefit payments.
Facilities investment expanded by 6.3 percent, thanks to increases in machinery such as semiconductor manufacturing equipment and precision equipment.
Construction investment meanwhile rose by 1.5 percent, owing to growth in civil engineering which offset the shrinkage of investment in building construction.
Exports of goods grew by 1.9 percent in the third quater, led mainly by increased exports of petrochemical products, semiconductors and automobiles. Imports of goods similarly expanded 2.5 percent, centering on increases in crude petroleum & natural gas and general machinery imports.
Growth Rates by Component of Expenditure (at chained 2005 year prices, S.A. series)
(percentage changes from previous quarters)
2008 2009p 2010p
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
Gross Domestic Product -0.1 -4.5 0.2 2.4 3.2 0.2 2.1 1.4 0.7
Final consumption expenditure 0.3 -3.2 0.9 2.7 1.3 -0.2 1.8 0.7 0.9
(Private) 0.1 -4.5 0.3 3.3 1.7 0.4 0.7 0.8 1.3
(Government) 1.0 1.7 2.9 0.7 0.0 -2.4 5.8 0.1 -0.6
Gross fixed capital formation 0.0 -6.7 0.4 3.9 2.5 1.6 1.5 0.9 3.5
(Construction) 0.7 -3.3 5.9 1.8 -0.7 -0.1 1.3 -3.6 1.5
(Facilities investment) -1.0 -13.9 -10.5 9.0 10.8 5.3 2.4 9.1 6.3 Exports of goods & services -0.1 -8.9 -3.2 10.0 4.4 -1.0 2.9 7.2 1.8
(Goods) -0.5 -12.5 -1.7 13.5 5.1 -1.5 3.7 7.0 1.9
Imports of goods & services 0.3 -14.7 -6.4 8.8 6.5 0.1 4.4 7.4 2.3
(Goods) 0.4 -15.5 -5.8 8.7 8.0 -1.3 5.1 9.5 2.5
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Real GDP (chained volume measure) increased by 4.5 percent year-on-year in the third quarter of 2010.
On the production side, agriculture, forestry & fishing decreased sharply reflecting the influence of abnormal climate change, while manufacturing and services both showed sustained growth.
On the expenditure side, construction investment declined. Private consumption rose steadily, however, while facilities investment and exports of goods maintained high rates of growth.
Growth Rates by Kind of Economic Activity and Component of Expenditure ( at chained 2005 year prices, original series)
(percentage changes over previous years)
2009p 2010p
1Q 2Q 3Q 4Q Y 1Q 2Q 3Q 1~3Q
Gross Domestic Product -4.3 -2.2 1.0 6.0 0.2 8.1 7.2 4.5 6.5
Agriculture, forestry & fishing 1.5 -1.3 3.3 2.8 1.6 -1.9 -2.2 -6.1 -3.6
Manufacturing -13.6 -7.2 1.7 13.0 -1.6 20.7 18.0 9.9 15.9
Electricity, gas & water supply 6.1 4.0 7.5 1.4 4.9 5.0 6.2 3.0 4.7
Construction 0.0 3.2 0.3 3.3 1.9 1.5 -0.5 0.8 0.5
Services1) -0.4 0.3 0.9 3.0 1.0 4.4 3.6 2.9 3.6
Final consumption expenditure -2.0 0.7 1.7 4.7 1.3 5.7 3.6 3.2 4.2
(Private) -4.4 -1.0 0.7 5.8 0.2 6.3 3.7 3.3 4.4
(Government) 7.2 6.7 5.3 1.1 5.0 3.8 3.2 2.9 3.3 Gross fixed capital formation -7.4 -2.3 0.4 7.1 -0.2 11.4 6.4 7.0 8.0 (Construction) 2.8 5.1 4.4 5.0 4.4 2.3 -2.9 -2.1 -1.2 (Facilities investment) -23.1 -17.3 -7.0 13.3 -9.1 29.9 30.2 25.2 28.3 Exports of goods & services -10.7 -3.4 1.0 9.8 -0.8 16.6 14.1 11.3 13.9 (Goods) -13.5 -3.2 2.3 15.0 0.0 21.6 14.9 11.5 15.6 Imports of goods & services -18.8 -13.3 -7.7 8.7 -8.2 21.0 19.3 15.0 18.3 (Goods) -18.5 -13.8 -6.7 8.9 -7.9 21.8 22.1 16.5 20.0
Gross Domestic Income -5.2 -0.5 3.6 8.6 1.7 9.2 6.0 4.5 6.5
Note : 1) Includes wholesale & retail trade; restaurants & hotels; transport & storage; financial intermediation;
real estate and renting; information & communication; business activities; public administration, defence & compulsory social security; education; health and social work; recreational, cultural and sporting; and other service activities
