1.9% GDP growth rate at constant prices in the first quarter of 2018oracle
The Department of Statistics issued the preliminary results of the quarterly estimates of the GDP at fixed prices for the first quarter of 2018. The results show that growth reached 1.9% during the first quarter of 2018 compared with the same quarter of 2017.
At the level of production sectors, most sectors have shown positive growth during the first quarter of 2018 compared with the first quarter of 2017. According to the report, social & personal services sector has achieved the highest growth rate at 4.1%, followed by the agricultural sector at 3.5%, then finance, insurance & real estates sector at 3.0% then quarrying industries sector and transport, storage & communications sector at 2.9% for each, followed by electricity and water sector at 2.5% and wholesale, retail trade, restaurants &hotels sector by 1.6%.
At the level of sector contribution in the achieved growth rate during the first quarter of 2018 (which reached 1.9%) the finance, insurance & real estate’s sector has contributed by 0.66 percentage point, while the transport, storage & communications sector’s contribution has contributed by 0.44 percentage points of the total achieved growth rate.
The personal and social services sector and net tax have contributed by 0.18 percentage points, then wholesale, retail trade, restaurants & hotels sector by 0.17 percentage points, then the agricultural sector by 0.13 percentage points of the total achieved growth rate.