Quarterly National Accounts - 1st quarter 2013
GDP drop in the Q1 2013 was deeper
According to the refined estimate, the gross domestic product in the Q1 2013 was lower by 2.4%, y-o-y; compared to the Q4 2012 it dropped by 1.3%. The estimate published on 4 June 2013, based on incomplete data, forecasted a less marked decrease by 2.2% and 1.1%, respectively.
It was especially a decrease of the estimated income from excise tax on fuels and lubricants by CZK 3.2 billion from the background materials of the Ministry of Finance of the CR, which had a negative impact on the GDP. A correction that should not be neglected related to the external trade. Using VAT tax returns, the volume of exported and imported goods has been reduced by CZK 9.3 billion and CZK 8.5 billion, respectively. Partial modifications were reflected also in other items of the national accounts.
A full set of time series of the quarterly national accounts including revised data for the Q1 2013 is available on the CZSO web pages: http://www.czso.cz/csu/czso/hdp_ts.
The CZSO started to compile a refined estimate of GDP in the term of 3 months after the end of the reference quarter, because it strives in advance to comply with the requirements for data transmission to Eurostat according to the new methodological standard of the ESA 2010, which will be effective since September 2014. It requires from the EU Member States to provide selected national accounts indicators always 60 days and subsequently in a more detailed breakdown 90 days after the end of the reference period.
GDP preliminary estimate for the Q2 2013 will be released on 14 August 2013.
Contact person:
Mr Michal Široký
Quarterly and Regional Accounts Unit
E-mail: michal.siroky@czso.cz
- year 2013 | 4th quarter 2013 | 3rd quarter 2013 | 2nd quarter 2013 | 1st quarter 2013
Published: 28.06.2013
The data are valid as of the release date of the publication.
Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz
