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Algeria's GDP grew at 1.3% in Q1 of 2018

Published on : Saturday, 28 July 2018 15:21   Read : 10 time(s)
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Algeria's GDP grew at 1.3% in Q1 of 2018

ALGIERS- Algeria’s Gross Domestic Product (GDP) grew by 1.3% in the first quarter of 2018 compared to the same period of 2017, the National Office of Statistics (ONS) told APS.

However, the first quarter of 2018 has been marked by the decline in the hydrocarbons sector growth by 2% compared to the same quarter of 2017.

Concerning the non-hydrocarbon growth, it was 2% compared to the first quarter of 2017, driven mainly by Agriculture and Fishing, Construction, Public Works and Hydraulic sectors (BTPH including oil services and public works) and Industry.

Indeed, agriculture and fishing growth rate hit 4.2%, that of the BTPH sector (including oil services and public works whose growth was 2%) is 4.7% while industry rate is 4.1%, added.

Regarding industry, out of the ten industrial subsidiaries, five ones posted positive growth rates, namely building materials (+ 12.1%), water and energy (+ 8.2%), food processing industry (+ 6.1%) and chemicals, plastic and rubber sector (+ 3%) and wood, paper and cork (+ 1.8%).


See also: IMF welcomes Algeria’s reforms to boost growth 


 

On the other hand, negative growth has been recorded for other industrial sectors, notably the mines and quarries (-10.2%), the Steel, Metallic, Mechanical and Electrical Industries (-7.4%), the various Industries (- 6.9%), Textiles (-1.1%) and Leather and Footwear (-1.1%).

 For Merchant Services, growth was 3.1%.

In the sectors composing the Merchant Services, growth was estimated at 6.6% in Transportation and Communications, 0.5% in Commerce, 3.8% Business Services, 3.3% in % in Services provided to households, whereas it was negative for the Hotels, Coffee Shops and Restaurants (-1.3%).

For the activities related to non-merchant services, growth was 5.3% for real estate businesses and 5% the financial services (Banks and Insurance), but negative for Public Administrations (-0.5%).     

The overall GDP growth was 1.6% in 2017, while non-hydrocarbon growth was 2.6%. 

Last modified on Sunday, 29 July 2018 15:31
Algeria's GDP grew at 1.3% in Q1 of 2018

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