Provisional estimates published by the National Statistics Office on Friday show that the Gross Domestic Product for the first quarter of 2021 amounted to €3,251.8 million, registering a decrease of €17.8 million, or 0.5 per cent, when compared to the same quarter of 2020.

In volume terms, GDP fell by 1.8 per cent.

Service activities and industry the main drivers behind the drop in volume terms were . Agriculture, fishing and construction meanwhile had a neutral impact on GDP growth.

While service activities, industry, and construction declined by 1.6 per cent, 2.1 per cent and 0.4 per cent respectively, agriculture and fishing increased by 4 per cent.

The drop in services was mainly driven by transportation and storage activities, accommodation and food service activities.

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