2.1% GDP growth rate at constant prices in the second quarter of 2018

2.1% GDP growth rate at constant prices in the second quarter of 2018

The Department of Statistics issued new series of the quarterly estimates of the GDP using 2016 as a base year. This series was developed according to the System of National Accounts 2008 which includes the improvement of  the coverage level  and the used methodologies, the results show that growth reached 2.1% during the second quarter of 2018 compared with the same quarter of 2017.

At the level of production sectors, most sectors have shown positive growth during the second quarter of 2018 compared with the same quarter of 2017. According to the report, the Social & Personal Services Sector has achieved the highest growth rate at 4.0%, followed by Transport, Storage & Communications Sector by 3.3%, then Agricultural Sector and Finance, Insurance & Real Estate’s Sector by 3.2% for each, then Electricity& Water Sector by 2.1% and manufacturing sector by 2.0%.

At the level of sectors contribution to the achieved growth rate during the second quarter of 2018, 78% comes from four sectors , the Finance, Insurance & Real Estate’s Sector has contributed by 0.71 percentage points, and the and manufacturing sector by 0.37 percentage points of total achieved growth,  Transport, Storage & Communications Sector contribution was 0.28 percentage points then Social & Personal Services Sector at 0.27 percentage points of total achieved growth.

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