This growth, driven by domestic demand, was achieved in a context of controlling inflation and worsening financing needs of the national economy.
The added value of the secondary sector in volume, adjusted for seasonal variations (cvs), achieved an increase of 7.6% in the third quarter of 2024 instead of 1.1% during the same period in 2023. This was the result of the increase in added values:
– in the extraction industry by 15.9% instead of a drop of 3.3%;
– manufacturing industries by 7.5% instead of 1.8%;
– building and public works by 6.9% instead of 0.9%;
– electricity, gas, water, sanitation and waste by 3.4% instead of 1.5%.
For its part, the added value of the tertiary sector showed an increase in its growth rate, going from 3.6% in the same quarter of the previous year to 3.8%. It was marked by the improvement of activities:
– transport and storage of 4% instead of 3.1%;
– services provided by general public administration and social security by 3.7% instead of 1.5%;
– trade and repair of vehicles by 3.2% instead of 1.9%;
and the slowdown of activities:
– accommodation and catering at 11.2% instead of 12.5%;
– research and development and services provided to businesses at 4.8% instead of 5.4%;
– financial services and insurance at 3.1% instead of 4.1%;
– education, health and social action services at 2.5% instead of 3.2%;
– real estate services at 1.8% instead of 3%;
– information and communication at 0.3% instead of 2.5%.
As a result, the added value of the non-agricultural sector increased by 5.1% during the third quarter of 2024 instead of 3.1% a year earlier.
On the other hand, the added value of the primary sector recorded a drop of 4.1% instead of an increase of 3.8% in the same quarter of the previous year. This is explained by the drop in agricultural activity of 5.2% instead of an increase of 0.9% and by the increase in fishing activity of 12% instead of 71.6%. .
In this context, and taking into account the increase in the volume of taxes on products net of subsidies of 8% instead of 4.2%, the Gross Domestic Product showed growth of 4.3% instead of 3%. during the third quarter of 2023.
Clear slowdown in the general price level
At current prices, GDP experienced an increase of 6% instead of 10.2% in the third quarter of 2023, thus showing a slowdown in the general price level to 1.7% instead of 7.2% in the same quarter of the year. previous year.
Domestic demand recorded an increase in its growth rate of 6.3% in the third quarter of 2024 instead of 4.2% in the same period of 2023, with a contribution to national economic growth of 6.9 points.
This is how gross investment (gross fixed capital formation, variation in inventories and net acquisition of valuables) experienced a sharp increase in its growth rate, going from (-3.5%) to third place. quarter 2023 at 13.5%, thus contributing to economic growth by 3.7 points instead of a negative contribution of 1.2 points.
For its part, household final consumption expenditure showed an increase of 3.9% instead of 8.1%, with a contribution to growth of 2.4 points. Likewise, final consumption of public administrations recorded an increase of 3.8% instead of 3.9% in the same period of the previous year, with a contribution to economic growth of 0.7 points.
A negative contribution from foreign trade
In terms of foreign trade, imports of goods and services showed an increase of 12.9% instead of 8.6%, with a negative contribution to economic growth of 6.9 points instead of a negative contribution of 5 points the same quarter last year.
For their part, exports recorded an increase of 9.8% instead of 7.2%, with a contribution to economic growth of 4.4 points instead of 3.4 points during the same period of the year. passed.
In this context, foreign trade in goods and services made a negative contribution to economic growth in the third quarter of 2024, standing at (-2.5) points instead of (-1.6) points last year.
Increase in the financing needs of the national economy
With the 6% increase in GDP at current prices and the 3.3% drop in net income received from the rest of the world, gross national disposable income increased by 5.4% in the third quarter of 2024 instead of 9 % the same quarter of the previous year.
Taking into account the slowdown in national final consumption in value to 5% instead of an increase of 9.7% recorded a year earlier, national savings stood at 26.9% of GDP instead of 26, 7%.
Gross investment (gross formation of fixed capital, change in inventories and net acquisition of valuables) represented 30.7% of GDP instead of 28.5% during the same quarter of the previous year.
The financing need of the national economy thus increased, going from 1.8% of GDP to 3.8%.
