KEY ECONOMIC INDICATORS 115th ISSUE: QUARTER ONE 2019/20 (Jul – Sep 2019)

This is the 115th publication of Key Economic Indicators, reflecting the performance of the economy during the first quarter of 2019/20 financial year (Jul – Sep 2019).

HIGHLIGHTS
Quarter One 2019/20 Gross Domestic Product Performance

Original unadjusted estimates
Year on Year Quarterly GDP growth for the First Quarter (Q1) of 2019/20 stood at 2.7 percent compared to the growth of 6.0 percent (revised) registered in Q1 of the previous year.

Sectorial Performance

Year on Year Value added in Agriculture sector is estimated to have increased by 0.0 percent in Q1 of 2019/20 compared to a growth of 6.5 percent in the Q1 of the previous year. This was mainly due to a decline in Food and Cash Crop growing activities by 2.7 percent and 6.6 percent in Q1 2019/20 respectively.
Year on Year Value added in Industry sector grew by 9.5 percent in Q1 of 2019/20 compared to a growth of 9.3 percent in Q1 of the previous year. This growth was mainly driven by manufacturing activities.
The Services sector Year on Year Value added grew by 1.3 percent in Q1 of 2019/20 compared to a growth of 6.8 percent (revised) in Q1 of the previous year. This growth was driven by Trade & Repair, Financial & Insurance, Information & Communication, Public Administration, Education and Health activities.

Seasonally adjusted estimates

Quarter on Quarter GDP declined by 0.7 percent in Q1 2019/20 compared to the growth of 2.3 percent (revised) in the Fourth Quarter (Q4) of 2018/19.

Sectorial Performance
Value added in Agriculture sector grew by 0.2 percent in Q1 of 2019/20 from growth of 2.7 percent (revised) in the Fourth Quarter (Q4) of 2018/19.
In addition, Value added in Industry sector declined by 0.4 percent in Q1 of 2019/20 compared to a growth of 2.4 percent (revised) in Q4 of 2019/20.
The Services sector Value added grew by 1.0 percent in Q1 of 2019/20 compared to an earlier decline of 0.1 percent (revised) in Q4 of 2018/19.