Driven by domestic demand, this growth was achieved in a context of controlled inflation and an improvement in the financing capacity of the national economy, notes the HCP in an information note on the national economic situation. in the first quarter of 2024.
Non-agricultural activities showed an increase of 3.2% and those in the agricultural sector a decrease of 5%, specifies the HCP.
At retail, the added value of the primary sector in volume, adjusted for seasonal variations, contracted by 4.3% in the first quarter of 2024, after recording an increase of 1.7% in the same quarter of the previous year.
This drop resulted from the sharp decline in the added value of agriculture of 5% instead of an increase of 2.1% and the increase in that of fishing by 10% instead of a drop of 4. 8%.
For its part, the added value of the secondary sector increased by 3.6% instead of a decrease of 0.4% in the same period last year, as a result of the slowdown in the activities of the manufacturing industry to 2.1% instead of an increase of 3% and the increase in the added values of the extraction industry by 17.7% instead of a decrease of 12.1%, of electricity, gas, water, sanitation and waste by 3% instead of a decrease of 3%, of construction and public works by 2.5% instead of a decrease of 3%.
As for the added value of the tertiary sector, it recorded a slowdown in its growth rate from 6% in the same period of the previous year to 3% in the first quarter of 2024.
It was marked by the slowdown in the activities of Financial Services and Insurance to 3.9% instead of 7.3%, research and development and services provided to businesses to 3.6% instead of 4.3%, transport and storage to 3.4% instead of 8.7%, education, health and social services to 2.9% instead of 4.2%, real estate services to 2.1% instead of 2.7%, accommodation and catering to 1.9% instead of 55.8% and information and communication to 1.3% instead of 3.1%.
It was also marked by an increase in services provided by general public administration and social security of 3.4% instead of 3.1%, and in vehicle trade and repair of 2.7% instead of 1.4%.
Overall, the added value of non-agricultural activities saw a slowdown in its growth rate, falling from 3.9 in the same quarter last year to 3.2%.
Under these conditions, and taking into account the 5.5% increase in the volume of taxes net of subsidies on products, the Gross Domestic Product (GDP) in volume recorded a growth of 2.5% in the first quarter of 2024 instead of 3.9% a year earlier.
At current prices, GDP grew by 3.8%, resulting in a rise in the general price level of 1.3%.
