ALGERIA RECORDS 3.6 PCT GDP GROWTH IN Q1 2016
ALGIERS, — Algeria recorded a gross domestic product (GDP) growth rate of 3.6 per cent in the first quarter of 2016 over the same period in 2015, with the recovery of some activities in the key hydrocarbons sector and a slowdown in agriculture, the National Office of Statistics says.
Non-hydrocarbon growth hit 3.8 per cent in Q1 2016, against 5.1 per cent in Q1 2015, while outside agriculture went up by 3.5 per cent over the first three months of 2016, according to figures provided by the ONS.
The added value the sector of agriculture showed a 4.8 per cent growth in Q1 2016 against 6.3 per cent during the same period a year earlier. The slowdown was mainly the result of bad weather conditions, explained the ONS.
The hydrocarbon sector recorded a growth of 3.2 per cent in Q1 2016, against a negative 1.9 per cent in Q1 2015, as a result of development of refining and liquefaction activities.
The industrial GDP growth hit 5.0 per cent in the first three months of 2016, against 6.1 per cent in the same period of 2015, said the ONS.
Source: Name News Network