GUS publishes key economic data for 11 months of 2002

Central Statistical Office (GUS) chief Tadeusz Toczynski told a news conference on Wednesday that GDP growth is likely to have increased by about 2% year-on-year in the fourth quarter of 2002. Earlier, GUS informed that the economy grew by 1.3% throughout 2002, exactly in line with analysts' expectations, which is slightly more than the 1% growth rate a year before. Moreover, the office said that domestic demand grew 0.8% last year after shrinking 1.7% in 2001. Value added in industry rose 0.9% after a 0.9% fall in the previous year, while value added in the construction sector fell 7.1% in 2002 after a 8.0% fall in 2001. In related news, the foreign trade deficit fell slightly to $12.8 billion over January-November 2002, from $12.9 billion over the same period of 2001. GUS figures show that exports rose 11.4% to $37.2 billion, while imports rose 8.2% to $50.1 billion over the first 11-months of 2002. (Reuters; Parkiet, p. 6) M.M.