The High Commission for Planning (HCP) has released a note indicating that national growth stood at 0.5% in the fourth half of 2022, with a contraction in demand. The HCP notes that non-agricultural activities saw an increase of 2.3%, while those in the agricultural sector decreased by 15.1%.
The note also highlights that the added value of the primary sector in volume, adjusted for seasonal variations, contracted by 15%, while the secondary sector experienced a decline of 2.4%. The added value of the tertiary sector recorded a more significant slowdown, with a decline of 4.9%.
The Gross Domestic Product (GDP) increased by 5.8% at current prices, resulting in a general price level increase of 5.3%. The note points out that domestic demand contracted by 1.7%, contributing negatively to economic growth by 1.9 points.
In terms of foreign trade, the note indicates that exports increased by 19.7%, contributing 6.5 points to growth. However, imports of goods and services increased by 9.1%, with a negative contribution to growth of 4.1 points. The HCP concludes by stating that the national economy’s financing requirement has decreased to 2.1% of GDP.
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