Gross investment (gross fixed capital formation, change in inventories, and net acquisition of valuables) continues to record declines in its rate of increase, posting a 3.1% drop in Q2 2023 after an 8.4% decline in the same quarter last year, with a negative contribution to growth of 1.1 points, the HCP states in an information note on the national economic situation in Q2 2023.

Household final consumption expenditure, on the other hand, rose by 0.4% instead of 0.3%, with a contribution to growth of 0.2 points. Similarly, final consumption by the general government rose by 3.1% instead of 4.9%, with a contribution to growth of 0.6 points.

The HCP also reports that foreign trade in goods and services made a positive contribution to growth of 2.5 points, compared to 3.9 points in the same quarter of the previous year.

In this context, exports of goods and services rose by 6.5% in the second quarter of 2023, compared with 27.7% in the same period last year, with a contribution to growth of 3 points, compared with 9 points in the same period last year.

Imports of goods and services rose by 1% instead of 12.2%, with a negative contribution to growth of 0.5 points instead of 5.1 points a year earlier.