Gross domestic product (GDP) advanced 0.5% sequentially, following a 0.4% rebound in the fourth quarter.

The quarterly development of GDP was positively influenced by increasing domestic demand, especially by higher final consumption expenditures of households and gross capital formation, the agency said.

On a yearly basis, GDP rose 0.4% in the March quarter versus a 0.2% rise in the previous quarter.

The growth was attributed to final consumption expenditures and an increasing external trade balance.