ESWATINI GDP GROWS BY 7% IN 2023 Q4

MBABANE - The Real Quarterly Gross Domestic Product (GDP) indicated a growth of 7.0 per cent in the fourth quarter of 2023 (seasonally adjusted year on year) following a revised growth of 6.8 per cent in the third quarter of 2023.

This is according to the fourth quarter bulletin compiled by the Central Statistical Office. It was reported that the Quarter to quarter (Q-Q) seasonally adjusted growth rate, which measures the change from subsequent quarters shows a growth of 0.8 per cent in 2023 Q4.  This was following a revised growth of 2.4 per cent in 2023 Q3. The primary sector contributes 9 per cent to total industries in the fourth quarter of 2023 shows a decline of -5.8 per cent on the year on year basis. The realised decline was due to a decrease in forestry (-54 per cent), and animal production (-2 per cent).

Secondary sector contributes 33 per cent to total industriesan indicates a decline of -1.5 per cent in 2023 quarter 4, year on year. The realised decline in this sector is mainly due to a decrease in manufacturing (-2 per cent) and water and sewage (-2 per cent). Meanwhile, the tertiary sector contributes 52 per cent of total industries shows an overall increase of 11.9 per cent in 2023 quarter 4 year on year. This increase was mainly contributed by the following industries; wholesale and retail trade (10 per cent), accommodation and food services (24 per cent), information and communication (32 per cent) financial and insurance activities (35 per cent).

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