Growth improves to 3.5% in Q1-2023

Growth improves to 3.5% in Q1-2023

The High Commission for Planning (HCP), has indicated that the closing of the national accounts for the first quarter of 2023 shows an improvement in national economic growth which stood at 3.5% instead of 0.5%. during the same period of the year 2022.

In an information note on the national economic situation in Q1-2023, the HCP explains that non-agricultural activities posted a volume increase of 3.2% and those of the agricultural sector an increase of 6.9%.

Driven by external demand, this growth was achieved in a context of high inflation and an improvement in the financing capacity of the national economy, underlines the same source.

At retail, the value added of the primary sector in volume, seasonally adjusted, recorded an increase of 6.6% in Q1-2023, following the increase in agricultural activity of 6.9% and the fishing growth slowed to 0.3%.

The added value of the tertiary sector, for its part, increased by 5.4%, marked by an improvement in the activities of hotels and restaurants with 53.9%, transport (7.1%), financial services and insurance ( 5.4%), services provided by general public administration and social security (4.6%) despite the slowdown in the growth of education, health and social action services at 4.5%, research and development and business services at 2.1%, trade and repair of vehicles at 1.5% and post and telecommunications at 0.9%.

On the other hand, the value added of the secondary sector fell by 1.3%, due to the fall in the value added of the extraction industry by 11.8%, building and public works by 3.4%, electricity and water by 2.4% and the increase in those of the processing industries by 1.8%.

The HCP also reports that at current prices, the gross domestic product (GDP) increased by 8.9% in Q1-2023, thus generating an increase in the general price level of 5.4%.


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