1.9% GDP growth rate at constant prices in the third quarter of 2017

1.9% GDP growth rate at constant prices in the third quarter of 2017

The Department of Statistics issued the results of the quarterly estimates of the GDP at fixed prices for the third quarter of 2017. The results show that growth reached 1.9% during the third quarter of 2017 compared with the same quarter of 2016.

At the level of production sectors, most sectors have shown positive growth during the third quarter of 2017 compared with the third quarter of 2016. According to the report, the Agriculture Sector has achieved the highest growth rate at 3.8% in the third quarter of 2017 compared with the same period of 2016 at constant prices, followed by the Transport, Storage & Communications Sector by 3.7%, then the Social & Personal Services Sector at 3.1%, followed by the Finance, Insurance & Real Estate’s sector by 2.8%, then the Electricity& Water Sector by 2.3%.

At the level of sector contribution to the achieved growth rate during the third quarter of 2017 (1.9% at constant prices), the Finance, Insurance & Real Estate’s Sector has contributed by 0.56 percentage point of the total achieved growth rate. The Transport, Storage & Communications Sector contribution was 0.52 percentage points, while the net tax on products Sector has contributed by 0.28 percentage points, the Manufacturing Industries Sector by 0.19 percentage points and finally the Wholesale, Retail Trade, Restaurants & Hotels Sector contributed by 0.17 percentage points of the total achieved growth.

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