Domestic demand increased by 3.6% in the first quarter of 2024 instead of 0.3% in the same quarter of the previous year, according to the High Commission for Planning (HCP).
The contribution of this demand to national economic growth amounted to 3.7 points instead of 0.3 points a year earlier, specifies the HCP in an information note on the national economic situation in the first quarter of 2024.
Thus, household final consumption expenditure increased by 3% instead of 0.9%, with a contribution to growth of 1.9 points instead of 0.6 points, specifies the HCP.
Final consumption of public administrations, for its part, showed a slowdown in its growth rate, falling from 4.5% in the same period of the previous year to 3.9% in the first quarter of 2024 with a contribution to growth of 0.7 points instead of 0.9 points.
For its part, the rate of increase in gross investment (gross formation of caputal fuxe, variation in stocks and net acquisition of valuables) experienced an increase of 4.6% instead of a decrease of 5 % in the first quarter of 2023, thus contributing positively to growth by 1 point instead of a negative contribution of 1.2 points.
Furthermore, said note indicates that in terms of foreign trade in goods and services in volume, both exports and imports recorded strong increases during the first quarter of 2024.
Thus, imports of goods and services showed an increase of 9.5% instead of 7.8%, with a negative contribution to growth of 4.1 points instead of a negative contribution of 3.7 points, during the same period last year.
For their part, exports increased by 7.3% instead of 18.6%, with a contribution to growth of 3 points instead of 7.4 points a year earlier.
In this context, foreign trade in goods and services made a negative contribution to growth, standing at 1.1 points instead of a positive contribution of 3.6 points during the first quarter of 2023.
