2.0% GDP growth rate at constant prices in the third quarter of 2018
The Department of Statistics issued the quarterly estimates of the GDP at constant prices for the third quarter of 2018 using 2016 as base year. This series have been developed according to the System of National Accounts (SNA) 2008,Which included improving the coverage level and the used methodologies. The results show that growth reached 2.0% during the third quarter of 2018 compared with the same quarter of 2017.
At the level of production sectors, most sectors have shown positive growth during the third quarter of 2018 compared with the third quarter of 2017. According to the report, the Social & Personal Services Sector has achieved the highest growth rate at 3.5%, followed by the Agricultural Sector by 2.9%, followed by Transport, Storage & Communications Sector by 2.8%, then Finance, Insurance & Real Estate’s Sector by 2.7%, followed by Electricity& Water Sector by 2.4%.
At the level of sectors contribution to the achieved growth rate during the third quarter of 2018, the Finance, Insurance & Real Estate’s Sector has contributed by 0.59 percentage points and the manufacturing sector has contributed by 0.37 percentage points, Transport, Storage & Communications and personal and social services by 0.23 percentage points for each, then the Wholesale, Retail Trade, Restaurants & Hotels Sector contributed by 0.15 percentage points of the total achieved growth.
