A government spokesman said the economy continued to expand robustly in the second quarter, underpinned by buoyant external trade and resilient domestic demand.
Exports of goods, measured in national accounts terms, rose 28.8 percent over a year earlier, beating the 23.8 percent growth pace recorded in the first quarter. Imports were up by 29.3 percent, compared with 29.9 percent in the first quarter.
Exports of services rose by 3.4 percent, up from 3.3 percent, while imports increased by 2.8 percent from a previous 3.8 percent pace.
Consumer spending was up by 2.9 percent, compared with a 4.9 percent increase in the previous quarter, while the government outlay rose 0.5 percent compared with a 2.8 percent increase in the January-to-March period.
GDP growth stood at 5.9 percent in the first quarter.
The spokesman expects the economy to post solid growth in the second half, thanks to a strong performance in exports.
“Vibrant global demand for artificial intelligence-related products should bolster merchandise exports, while exports of services should benefit from sustained growth in visitor arrivals and steady demand for financial and business services,” he said.
However, he also warned that ongoing Middle East geopolitical tensions, uncertain US monetary policy and trade protectionism in major advanced economies could pose a risk for the local economy.
The government has forecast full-year economic growth to reach 2.5-3.5 percent.
