Year-on-year, exports grew 3.4 percent while imports rose at a faster 4.6 percent. Household consumption increased 2.4 percent and government spending went up 1.7 percent. In contrast, gross fixed capital formation shrank for the fourth straight quarter by 1 percent.
On a quarter-on-quarter seasonally adjusted basis, the economy expanded 0.7 percent in the last three months of 2014.
Considering full 2014, the GDP grew 2.9 percent, lower than a 4.2 percent increase in 2013. Gross fixed capital formation contracted 1.3 percent while household consumption slowed sharply to 1.3 percent.