Real growth 1.7% in 2014, up from 1.3%

PHILIPSBURG--The Department of Statistics (STAT) has released its preliminary gross domestic product (GDP) estimates for 2014, estimated at 1.7-per-cent growth in real terms. This represents a slight improvement in the overall economy relative to the year 2013, when final estimates put economic growth at 1.3 per cent.

Although the non-financial sector had less intense growth in 2014 as a whole, the financial intermediation and government sectors recorded an increase of approximately 1 and 3 percentage points respectively, above 2013.

In nominal terms, economic activities expanded from NAf. 1,831 million in 2013 to NAf. 1,895 in 2014.

The main industries that contributed to growth in gross value-added were real estate and other business services (4.4 per cent), trade (2.8 per cent), construction (4.3 per cent) and hotel & restaurants (2.2 per cent).

When looking at GDP by expenditure, in constant prices, growth was driven primarily by household final consumption expenditure, while gross capital formation and net exports saw declines of 3 and 2 per cent respectively.

For detailed tables, visit www.stat.gov.sx.

The Daily Herald

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