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Provisional estimates indicate that the Gross Domestic Product (GDP) for the fi rst quarter of 2020 amounted to €3,192.8 million, an increase of €59.0 million or 1.9 per cent when compared to the corresponding period last year. In volume terms, GDP rose by 0.5 per cent.
The production approach
During the fi rst quarter of 2020, Gross Value Added (GVA) increased by €72.2 million when compared to the same quarter last year. GVA is the net result of output valued at basic prices less intermediate consumption valued at purchasers’ prices (Table 1).

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