The national economy would have recorded growth of 4.2% in the first quarter of the year 2025, at an annual rate, according to the last estimates of the High Commission for Planning (HCP). This revival of activity is explained in particular by a resumption of the agricultural sector and a marked contribution of extractive services and industries.
According to the conjuncture note published Thursday, the added value outside agriculture would have increased by 4.2% over the period. In detail, growth is notably supported by the good performance of market services, in particular those related to accommodation, which would have experienced an expansion of 13.2% in one year. The extractive industries and the construction sector would record an increase of 6.7% and 6.4% respectively.
Agricultural added value, on the other hand, would have believed 3.1%, thus starting a recovery after several campaigns affected by difficult climatic conditions.
Dynamic interior consumption, despite persistent inflation
Interior demand continues to play a driving role in growth. Household consumption would have increased 4.5% in the first quarter, supported by the increase in income, resulting from wage revisions in the public and private sector, as well as tax reduction measures, including the reduction in income tax. This trend was maintained despite a slight recovery in consumer prices.
A foreign trade always set back
In terms of external exchanges, the contribution to growth remains negative but diminished, reaching -1.1 point. This decline is explained by a more marked slowdown in imports than exports, in a context of low global commercial dynamics.
Manufacturing industry in slight withdrawal
Finally, the note indicates a slowdown in manufacturing activity, dependent on export performance, with a contribution in decline of 0.2 points to overall growth.
These results reflect, according to the HCP, a rather favorable start to the year for the national economy, carried by a sustained internal revival and recovery signals in certain key sectors, despite an international context still uncertain.
