GDP in EU up 0.3%

The Gross Domestic Product in the 15 European Union member states grew by 0.3 per cent in the first quarter this year, compared to the previous quarter, Eurostat, the statistical office of the European Communities, said. In comparison with the first...

The Gross Domestic Product in the 15 European Union member states grew by 0.3 per cent in the first quarter this year, compared to the previous quarter, Eurostat, the statistical office of the European Communities, said.

In comparison with the first quarter of 2001, the GDP grew by 0.4 per cent, Eurostat data, circulated locally by the Malta-EU Information Centre, showed.

The GDP in the eurozone grew by 0.3 per cent in the first quarter of 2002 - a similar growth had been registered in the same period last year. The eurozone is made up of 12 EU member states, namely, Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.

Figures published by the National Statistics Office of Malta indicate that the country's GDP increased nominally by Lm11.4 million to Lm398.8 million in the first quarter of 2002 when compared to the same quarter last year. This translates into a nominal growth of 2.9 per cent.

In real terms, the GDP increased by 1.4 per cent or Lm4.8 million to Lm340.7 million, MIC said.

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