1% economic growth in the first quarter of 2021

The closing of the national accounts shows a growth of the national economy at 1% in the first quarter of 2021, instead of 0.9% during the same quarter of the previous year, indicates the High Commission for Planning (HCP) .

This development is the result of a sharp increase in agricultural activity of 20.5% and a contraction of 1.4% in non-agricultural activities, explains the HCP which has just published an information note on the situation. national economy in Q1-2021.

Growth was thus driven by domestic demand in the context of controlled inflation and an improvement in the financing needs of the national economy, notes the same source.

At retail, the HCP reports that after a 4.3% drop in Q1-2020, the value added of the primary sector in volume, seasonally adjusted, increased by 18.7% during the same period in 2021 This development is attributable to the increase in agricultural activity by 20.5% and in fishing activity by 1%.

The added value of the secondary sector, for its part, increased by 1.5% instead of 1.8% during the first quarter of the previous year. This was the result of the improvement in added values ​​of the extraction industry by 5.2%, the processing industries (1.6%), electricity and water (0.6%), building and public works (0.2%).

On the other hand, the added value of the tertiary sector, contracted by 2.9% in the 1st quarter of this year after registering an increase of 1.5% in the same quarter of 2020.

This decrease was the result of the combined effect of the fall in added values ​​of hotels and restaurants by 50.3%, transport (10.9%), post and telecommunications (4%), financial services and insurance (3, 2%) and trade (0.5%), as well as the increase in those of services rendered by the general public administration and social security of 2.1%, of education, health and social action (1%) and services provided to households and businesses (0.6%).

At current prices, the GDP increased by 1.8% during the first quarter of 2021. As a result, the increase in the general price level was 0.8% instead of 0.7% a year earlier.


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