National Accounts – March 2019 Issue

Based on data available for all four quarters of 2018, GVA at basic prices grew by 3.6%, same as in 2017. Exclusive of sugar, the rate was 3.7%.

GDP at market prices grew by 3.8%, same as in 2017.

Year 2019
In light of latest information gathered on key sectors of the economy, GVA at basic prices is expected to grow by 3.6%, same as in 2018.

Based on figures provided by the Ministry of Finance and Economic Development, taxes on products (net of subsidies) will grow at a high rate of 6.1%. Consequently, GDP at market prices is forecasted to grow by 3.9%.

Final consumption expenditure of households and government is expected to grow by 3.2%, lower than the 3.5% in 2018. Gross Domestic Savings as a percentage of GDP at market prices would be 9.7 compared to 9.1 in 2018.

Investment is expected to grow by 12.6%, higher than the 11.4% growth in 2018. Exclusive of aircraft and marine vessel, the growth in investment would be 6.9% compared to 12.6% in 2018.

Investment rate defined as the ratio of investment to GDP at market prices would attain 20.5% in 2019 from 18.7% in 2018. Exclusive of aircraft and marine vessel, it would be 19.5%, higher than the rate of 18.7% noted in 2018.